How can we get our deposit back if we can’t close sue to no fault of our own?
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How can we get our deposit back if we can’t close sue to no fault of our own?
My husband and I put down a $1000 check and entered into a ‘
Asked on September 28, 2018 under Real Estate Law, Virginia
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
No, your lack of fault is not a defense to your contractual obligations and does not allow you to recover your earnest money. When you enter into a contract, you have to comply regardless of your circumstances; if you fail to do so, you are in breach of contract, and your breach will allow them to keep the deposit. Only if the seller violated his/her obligations in some way, or lied to you about something important about the property to get you to sign (i.e. committed fraud) would you be able to recover your deposit.
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