Legal Question in Real Estate Law in New Jersey

downpayment for property

What happens to to my downpayment if my mortgage is not approved and more than 30 days has gone by?


Asked on 11/10/03, 8:38 pm

1 Answer from Attorneys
Bernard J. Berkowitz Berkowitz & Raiken

Re: downpayment for property

It depends on the terms of your contract. If you need a lawyer to review it please call for an appointment. Usually, either party can cancel a contract if no mortgage is received by the time allotted unless their is a waiver.

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Answered on 11/11/03, 9:07 am


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