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An individual went into contract with a buyer 4 months ago. The buyer was to get a mortgage within 60 days, buyers has not been able to get a mortgage. what are the options for the seller?

By cigerena673 from NY Jul 11th 2014
Reply

keep the deposit and put the house back up for sale

Jul 11th 2014

The contract can be considered null and void. However if they had that the offer was contingent upon them getting a mortgage and provide proof they were denied, the seller cannot keep the d3posit.

Jul 11th 2014

You need to refer to the contract as to what the conditions are for keeping or releasing a deposit. Typically there would be dates that must be met with regards to obtaining suitable financing or having any rejection of financing provided to the seller as evidence. I'd suggest speaking to a local real estate attorney as this is a legal matter.

Jul 11th 2014
by

Hello, you can contact us directly with our email: [email protected] for more info on how you can get a loan from us.

Jul 13th 2014
by

Contact for directly via email: [email protected] for more info.

Jul 15th 2014

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