Q: Can I recover my deposit or address mortgage and appraisal discrepancies with my home purchase in Mililani?

A: You may have options to recover your deposit or address the discrepancies if the financial representations you received were inaccurate or if the property had undisclosed issues. Since you were told over the phone that you could cancel anytime and get your deposit back, that may create a basis to argue that your agreement to proceed was based on misrepresentations. Keep any records of calls, emails, or messages that support what you were told about canceling or your expected mortgage payments.

Regarding the mortgage and appraisal issues, you could raise these discrepancies with your lender or the escrow company. If the appraisal came in lower than expected, it may affect your financing and could be a reason to renegotiate or withdraw under your contract’s appraisal or financing contingencies. Document all the property defects and obtain reports or estimates for repairs, as these could strengthen your case for cancellation or adjustments.

Before taking action, formally communicate in writing with your real estate agent, lender, or escrow officer explaining the discrepancies and your intent to address the issues. You might be able to negotiate a return of your deposit, adjustments to credits, or even terminate the contract if the financial and property issues materially affect your ability to purchase. Acting promptly and keeping detailed documentation is crucial to protecting your interests.