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Old 12-03-2009, 09:11 AM
1 posts, read 1,266 times
Reputation: 10


Husband and I had a land contract for last 2 years and gave $20K towards the purchase of a home...we were unable to get a loan and are being told by Sellers that we are not entitled to get that money refunded. We have read our agreement over and over and do not see where it states that..is this true, have we lost our $20K?...please advise..
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Old 12-03-2009, 09:38 AM
28,393 posts, read 68,183,914 times
Reputation: 18202
The specifics of such a contract should have been reviewed by a qualified attorney prior to any money changing hands / signatures being applied.

The situation you now face is rather common and caused many people to be 'scared off' of contract sales, but I have seen them work out fine if everyone understands what they are agreeing to.

I would suggest you budget some money and interview some attorneys to find one that will fight for you -- with enough on the line there is no such thing as an "air tight" deal...

Good Luck!
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