When a Deal Falls Through, Who Keeps the Deposit?

Category: Real Estate

Discover the key considerations surrounding deposit disputes in real estate transactions in this informative article. When a deal unexpectedly falls through, who gets to keep the deposit? This article examines the legal principles and factors that determine the rightful recipient of the deposit in various scenarios, such as buyer default, seller default, or mutual agreement. It provides valuable insights into the role of purchase agreements, conditions, and contractual obligations in determining deposit ownership. Understanding the rights and obligations of both buyers and sellers can help navigate deposit disputes and provide clarity in challenging situations. Whether you're a buyer or seller, this article offers important guidance on deposit protection and resolution when a real estate deal doesn't proceed as planned.