(nyc) Will Buyer Lose Their Ernest Money Deposit For Bad Faith ? Broker Said Hes Never Had It Happen And That Its Easier To Just Find New Buyers.
Location: new york city:
keeping it short. they put a 40k at signing deposit, was given 45 days to get a mortgage commitment. in that 45 days, the buyer has not started the mortgage, has not even ordered appraisal, he has not picked up me or my broker nor my (seller ) lawyers calls or texts. when my lawyer confronted him, he texted the lawyer that his mortgage has been denied, and that his credit is bad so he cant do it and just wanted the money back. my broker said its impossible for the commitment to be denied since you need an appraisal, and in 45 days he has not even had chance to get an appraisal. the house was empty btw, and we have asked for the the past month to at least do appraisal, we called the mortgage broker that his pre approval was from and they said they havent even started the mortgage. HE HAS DONE NOTHING IN 2 MONTHS
to tldr: this man wasted 2 months of my life and i really want to keep the deposit cause really f this guy. he clearly showed bad faith.
what do you guys think ?
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