Contract Question

[playagirl]

I signed a contract and gave a deposit for purchase of a condo in the orlando area, I live in NY.

I received mortgage docs but never signed them. The monthly was a lot higher than what I was told it would be and I freaked and backed out, then a couple of days after backing out I was denied the mortgage. This was back in Oct. of 2005.

At that time I was told I had to wait 8 to 10 weeks for my money to be returned. Then I was told the developer was having a cash flow problem and as soon as he had some closings I would get my money. This morning I was told that the contract I signed states the condo must be sold in order for me to get my money.

This is all via the mortgage company. I know the person who is the brother of a good friend. The developer won't return my calls (what a surprise).

Is that how it usually works or are they just giving me another story?
Has anyone had a similar situation?
Any advice?

[NoMoreMrNiceGuy]

Read the contract you signed for purchase of condo. It should tell you when, how and under what circumstances you can get your deposit returned.

If you're not satisfied, contact an attorney for an opinion, provided your deposit is high enough to justify it.