I was in the process of buying a house, but it fell through. My mortgage broker issued me a commitment letter with the condition that I get a raise at work, which was going to happen, but unfortunately, the raise did not come through. The seller said they did not want to wait for me to come up with extra money so my Realtor suggested we sign a release before the extension deadline, which we are on the 2nd extension. Now the seller does not want to release my deposit because they moved out of the house and are paying both rent and a mortgage loan. Can they keep my deposit if I was unable to fulfill a condition on the loan commitment letter?
Read more: Failed to meet conditions on loan commitment letter, what happens to deposit?
