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Buyers Can't Get Mortgage |
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I had a contract on the sale of my home which was a definite mortgage commitment date and a closing date both of which was for April, since then I have extended the closing date numerous times but not the commitment date, now we are in August and the buyers can not get a mortgage. Do I have a right to the earnest deposit that is in escrow?
Thank You |
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I haven't seen the wording of your sale contract. Offhand, I'd guess that you'll have to return that deposit, but as I say, I'm not a lawyer, I haven't read the contract, and I don't know all the circumstances. Did the buyers make a good faith attempt to secure financing? That might make a difference. |
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Edith
Originally published on August 11, 2007 |
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