Real Estate, Wills and Estate Law Resources

WILL THE BUYER LOSE HIS/HER DEPOSIT? The simple answer is: Most likely, yes. There may be various reasons for a buyer to decide not to follow through on a real estate deal – the real estate market may have changed significantly since the buyer entered into the contract with the seller and the buyer now considers his bid to have been too high; a buyer may not have arranged all the financing that was needed; the buyer may failed to sell his/her own house which left the buyer with insufficient funds to close the deal on the house that he/she has agreed to purchase. A review of the caselaw has revealed that the buyer who does not carry through on its