Deposit Not Returneed

**grey_juce** · 12-03-2009, 03:03 PM

We Signed Contact to purchase house some where in June 2009

Received a Mortgage Commitment in September:

Next, our income starts falling. I own a small comp (corp.) and company earnings was changing and this effected our income. We felt like no longer could afford this house and asked seller for cancellation. Seller refused.

Finally there was a closing set. Mortgage company re-run credit and issued Mortgage Denial Letter 2 days prior closing. There was no closing.

Seller is refusing to give back $30K deposit. We are planning to take it to the court to litigate $30K and looking for advises, possible chances, other ideas.

--
I'm new to this forum, its not allowed me placing links to the files nor attach it. I have links to PDF files, would like to point readers to: Contract of Sale, Mortgage Commitment, Contingency Clouse and final - Mortgage Denial Letter. Any suggestion have to place links to those files?

**Ortigas houses** · 12-03-2009, 06:32 PM

Deposit? Maybe there are some aspects that you have been done for them not give it. Well,your weapon is the written documents signed by both sides. Seek more legal advices,think well. Bringing this to court is might cost bigger than the deposit that you are up to. You guys try to settle this first in an out of court manner.

**grey_juce** · 12-03-2009, 06:45 PM

Originally Posted by Ortigas houses

Seek more legal advices,think well.

That's why I'm here .. to seek more advices.

**Greg** · 12-04-2009, 05:44 AM

Originally Posted by grey_juce

That's why I'm here .. to seek more advices.

This is a real estate forum with real estate agents answering the questions.

The advice you are seeking can only come from an attorney who has read all of the related documents. With $30k on the line don't waste your time looking for free advice. Get a lawyer.

**Ortigas houses** · 12-06-2009, 05:26 PM

Originally Posted by grey_juce

That's why I'm here .. to seek more advices.

What I mean is, as Greg said,get a lawyer if you are not satisfied with the advices that you might get in this forum. And that is why we are here,to give opinions/advices as long as we can. Good luck to your case.