Tag Archives: Contract

NYC Real Estate – How do you get Deposit Money Back when the deal falls apart?

For protect yourself when you purchase a property, contract is the rules of the game. In Manhattan, when a “meeting of the minds” occurs, the agreement fulfills, you will be asked to sign the contract and 10% of the purchase price of deposit will require for the buyer to show good faith. This money will be held in the seller’s attorney’s escrow account until closing. How does buyer Get Deposit Money back when The Deal Falls Apart? Many buyers easily get the money back with failed inspections or they cannot secure financing because they do their homework and finding the right brokers for them. Please be more cautious if you choose to deal the whole purchase process by yourself. Otherwise the real estate broker will work for you for FREE. Only the seller will be responsible for commission of both buyer’s broker and seller’s broker.

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