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    van nguyen's Avatar
    van nguyen Posts: 1, Reputation: 1
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    #1

    Jun 19, 2009, 02:19 AM
    Can buyer terminate sale contract becausenot qualifying for loan
    My friend put deposit for a condo to be built but the builder took longer than anticipated, by the time it is completed, buyer lost his job. Can buyer cancel the sale and have his deposit refunded?
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #2

    Jun 19, 2009, 02:26 AM

    No way to really answer that question without reading the contract.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Jun 19, 2009, 05:22 AM

    Most sales contracts do have a clause that makes them pending the buyer getting financing. If the contract has such a clause, then that might let your friend off the hook.
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