California
We have a contract that we put 20K down as a earnest money deposit. Basically, because it is a new condo property, and the occupancy is less than 50%, I cannot get anyone to finance this!!! Is there anyway to get my money back???
No where in the contract does it specifically state "non refundable", but it does say the following:
"$20K, and amount not to excced the money remitted by buyer iunder the terms of this agreement , sahll constitute liquidated damages payable to the Seller if Buyer fails to complete the purchase of the condominium because of default."
It is not my intention to default,....I just cannot get the financing.
HELP!
We have a contract that we put 20K down as a earnest money deposit. Basically, because it is a new condo property, and the occupancy is less than 50%, I cannot get anyone to finance this!!! Is there anyway to get my money back???
No where in the contract does it specifically state "non refundable", but it does say the following:
"$20K, and amount not to excced the money remitted by buyer iunder the terms of this agreement , sahll constitute liquidated damages payable to the Seller if Buyer fails to complete the purchase of the condominium because of default."
It is not my intention to default,....I just cannot get the financing.
HELP!