Buffalo, NY asked in Business Law, Contracts and Real Estate Law for New York

Q: how to get my deposit back when the contract expired?

This is a contingency contract depended on we sell the property located in FL. Because this pandemic happened, we didn't sell a property located in FL. So we don't have money to purchase the Property located in Steuben county, NY. The seller refuses to return our deposit ($10K).

3 Lawyer Answers
Michael David Siegel
Michael David Siegel
Answered
  • New York, NY
  • Licensed in New York

A: First, the contract will have terms. Second, if you are in the right, you may have to sue.

Elaine Shay
Elaine Shay
PREMIUM
Answered
  • New York, NY
  • Licensed in New York

A: If you have an attorney representing you in the purchase, you should discuss the situation with the attorney and have him or her send the required notice pursuant to your contract that allows for the cancellation of the contract and return of the downpayment.

Vincent Gallo
Vincent Gallo
Answered
  • Staten Island, NY
  • Licensed in New York

A: Start the lawsuit immediately.

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