Quote:
Originally Posted by Table 5
basically Im asking if i cant get a mortgage from my bank (on a place that closes in 2 months), do I get to keep my 10% deposit and walk away, or would i have to walk away forfeiting that 10%.
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Ok, I see. Are you buying a new condo under construction? The fine print in your contract should explain what happens with your deposit if you terminate the contract. If your conditions are removed, I would guess that you could lose all (or part) of your deposit. If the deposit is much larger than the damage to the vendor, you could recover some of it. New condo contracts are usually heavily slanted in the builder's favor.