Buyer wants to cancel contract.

[FELIPE DE MOTA]

What is the name of your state? FLORIDA

My daughter and her husband started the process of buying their first house six months ago.

They gave a $23,000.00 deposit. Now my daughter lost ther job. The bank is suggesting they may not be able to finish the closing process. My daughter and her husband feel so dissapointed that they want to cancel the whole thing.

My question is: Can they get back their deposit? The seller has been deducting $125.00 a day until they do the closing.

Please, help us. Thank you.

[HomeGuru]

Originally Posted by FELIPE DE MOTA

What is the name of your state? FLORIDA

My daughter and her husband started the process of buying their first house six months ago.

They gave a $23,000.00 deposit. Now my daughter lost ther job. The bank is suggesting they may not be able to finish the closing process. My daughter and her husband feel so dissapointed that they want to cancel the whole thing.

My question is: Can they get back their deposit? The seller has been deducting $125.00 a day until they do the closing.

Please, help us. Thank you.

**A: what did their Reatlor tell them?

[pojo2]

They need to read their contract and see if there are any contingencies that would afford them the opportunity to back out, like the inability to obtain financing.

Looks like that 125 per day will eat it away very quickly.

Final answer, it is ALL in the contracts.

[HomeGuru]

We have not been told the complete story because of the $125/day. It appears that the closing date has passed and there is an extension.