Mortgage Q & A: What if the owner of home dispute the down payment?

In some cases, you may have the made a down payment for a home but if the loan wasn’t approved, the owner of the home may dispute it because they moved out of the home and spent the money you paid in the process. What can be done?

On the off chance that your buy contract incorporated a financing possibility, and you (the purchaser) met all due dates identified with the financing possibility and were not approved, then the cash ought to be come back to the purchaser.

In the event that the agreement did not have a financing possibility, or if the purchaser discharged the financing possibility and afterward later the credit was not approved, then the vender typically will keep the sincere cash.

The cash is not the same as the initial installment. The up front installment is not being referred to here.

Your agent or lawyer ought to have the capacity to provide for you more subtle elements.