What can I do to recover my contract deposit for property?
In March of this year, i went into contract for a condo. (Not a coop) the condo was listed for 120,000.00 I bid 105 the seller accepted. I put 5,000 down and went into contract. After 3 months later, the real estate broker called me and said the mortgage broker said the loan was not approved because the condo had more renters than owners.
Ok, so now the seller for the lawyer says I have to give up 1,000.00 dollars because the entire thing took too much time.
P.S. I paid for the appraisal and when the appraisal was done the property was valued at 70,000. and the contract was amended.
Please someone let me know as MY LAWYER and MY REAL ESTATE BROKER ARE GIVING ME THE RUN AROUND.