Legal Question in Real Estate Law in Pennsylvania

I had recently sold my house. The closing was to take place on 04/30/2010. The buyer backed out of deal stating she could not get a mortgage on the house.She signed a contract to waive the sale NOT to be contingent on morgage financing because she was going to use her 401K to buy the house.I lost money on the new house I was to buy for the inspections plus all the time that I have lost on my house being off the market.She put $1000.00 down payment on my house.Can I keep that money and do I have other options?


Asked on 3/26/10, 10:21 am

1 Answer from Attorneys
Michael Berman Law Offices of Michael A. Berman

You just learned a hard lesson.

Why didn't you get a second deposit?

Your only option (assuming this is a approved sale form drawn by a realtor) is to REQUEST the 1000...you may not get it right away if the other side contests.

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Answered on 3/31/10, 1:06 pm


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