Legal Question in Real Estate Law in Pennsylvania

We had a contract on a home, however the lending process was taking too long and the seller entered into a new contract with another buyer. Are we entitled to our earnest money?


Asked on 1/29/16, 1:24 pm

1 Answer from Attorneys

Miriam Jacobson Retired from practice of law

If your mortgage contingency had not yet expired and you gave proper notice to the seller, you should have been able to get your deposit back. But you had to observe the time deadlines and the manner of giving notice.

Even if you didn't strictly follow those, if the seller just took your money and went forward with another buyer and didn't lose any money in the transaction, there seems to be some unfairness. Were Realtors involved? Contact them. Normally they do not release deposits without getting sign-offs by all parties.

Consult an experienced real estate lawyer in your area or in the are where the property is located.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

Read more
Answered on 1/30/16, 6:52 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Pennsylvania