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How to get back my deposit
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   Types of Loan Programs-> Types of Loan Programs ~ General QuestionsMessage format
Posted 4/2/2006 1:42 AM (#924)
Subject: How to get back my deposit
Hi experts,
We put 10% down $34000 to buy a house in Phoenix last June. When we sign contract, the builder only allowed us to buy it as primary home. Market was hot in June 05. We did plan to move there so my husband planned to be real estate agent and went to take twice of real estate license test but failed both. Now we can't move there since no job found yet, but the house was built ahead of planned schedule and we are required to close next month and the builder's appointed bank asked us to sign a second home occupancy certification.
Now my question is if we want to cancel the purchase, how can we get back the deposit? Is the bank conflicting with the builder who required our home to be the primary one?
Your prompt help is highly appreciated.

Best regards,

Helen :(
Posted 7/1/2008 12:27 AM (#1786 - in reply to #924)
Subject: RE: How to get back my deposit
Posts: 10
That is a tough one, I could answer you for sure if you were in California. If it were in California if it were not acceptable for some reason you would have three days after your inspection to get your money back for any reason.
YOu may want to check the law in Arizona. I would think that if the home did not meet your requirements they would have to give you back your money. But I do not know if that is the law in Arizona.

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