Legal Question in Real Estate Law in Pennsylvania

Commercial Real Estate Law

We recently attempted to purchase a business with real estate. The contract had a financial contigency. We showed proof of the loan we obtained with the stipulations. We put the deposit down on the loan and the bank turned out to be fraudulent! They took our deposit and ran. Now the seller wants to keep the $2000 deposit we put down on the contract of sale, knowing that we were cheated (we showed our police report). Are we out the deposit money too or if we did not know the loan was a fraud can we get it back?


Asked on 12/05/07, 4:10 pm

1 Answer from Attorneys
Michael Kuldiner Law Offices of Michael Kuldiner, P.C.

Re: Commercial Real Estate Law

yes you should get it back if your agreement was contingent upon getting a loan.

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Answered on 12/05/07, 5:47 pm


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