Legal Question in Real Estate Law in Pennsylvania

money and tax

I put 5000.00 on a new townhouse and then i did not like it. so i cancel the builder did not give me my money back. a week ago i got a tax statement on a account that i did not open from a bank for $32.63 interest.I called the bank and they said that the builder open it in my name .the builder have my 5000.00 and they have me paying the interest that they got.what can I do


Asked on 2/19/07, 2:36 pm

1 Answer from Attorneys
Roger Traversa Arjont Group (Law Office of Roger Traversa)

Re: money and tax

You asked about a statement for interest on a home deposit.

The statement you received seems to evidence an account opened in your name and which has accrued interest in your benefit.

Deposits on home purchases are often non-refundable unless a contract or circumstances permit or require the refund.

You should follow up with the bank and see whether you have access to the money or not. You could also follow up with the builder. If the builder was able to sell the unit you had a contract on for an equivalent or higher price than you had agreed then the builder _may_ be bound to refund your deposit.

Sounds like you may have caught a break.

Regards,

Roger

Read more
Answered on 2/19/07, 4:36 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Pennsylvania