Waiting On Financing

Question: My earnest money deposit on the real estate I am trying to buy in Berrien County, Michigan, has been held for over three months and I have not obtained financing. I have not received the home or a letter from the selling agent disputing the matter.

Answer: Usually, when a Buyer is purchasing a home with funding provided through a mortgage loan, the obligation of the Buyer to complete the purchase is contingent upon the Buyer obtaining the mortgage funding. Since you did not get the mortgage, then the purchase agreement should be terminated and you should get your escrow deposit back. Ask the selling real estate agent for your deposit back. You may show the selling agent a copy of this letter if you want. If the agent refuses, then report the agent to the Detroit Association of Realtors, 2111 Woodward Avenue, Suite 509, Detroit, Michigan 48201-3469, Phone: 313-962-1313, Fax: 313-962-0844.

Attorney: Mark Miller

Real Estate Law

Real Estate

Real estate law is a specialty area of law covering all the federal laws, local regulations and legal codes related to real estate, which is...

Read More

Business Law

Business Law

Business Law is a common name for the specialty area of law that is actually referred to as Commercial Law. The term Business Law describes and...

Read More

Corporations and LLC

Corporations and LLCs

Michigan Lawyers & Attorneys is ready to serve your legal needs when you are ready to set up your business as a Corporation or Limited...

Read More

Litigation

Litigation

Litigation is the legal process for resolving a civil or commercial dispute through the courts. It is defined as the act of bringing or contesting...

Read More

Probate Law

Probate

Probate Law is the specialty area of law that deals with the disposition of a person's estate after they have passed away. This is always a...

Read More

Estate Planning

Estate Planning

Estate Planning is the process of arranging your affairs for the orderly and tax efficient transfer of your assets to the beneficiaries of your...

Read More

Wills And Trusts

Wills And Trusts

One of the most important legal issues you have to address at some point in life is to set up your will, and when necessary a trust for your...

Read More

Tax Law

Tax Law

Tax Law is the specialized area of law that deals with the federal and state laws and regulations governing personal taxes and estate taxes...

Read More

Litigate Plan Protect

Our team of legal experts is here to help you navigate the complexities of corporate law, litigation, estate planning, and wills and trusts. With years of experience in these practice areas, we have the knowledge and skill to provide you with the legal guidance you need to achieve your goals.

We understand that every client's situation is unique, and we take a personalized approach to every case. Whether you need assistance with forming a corporation or LLC, representation in a litigation matter, or help with estate planning or wills and trusts, we are here to help you every step of the way. Trust us to provide you with the comprehensive legal services you need to protect your interests and achieve the best possible outcome for your case.

Share