The easy answer is yes but the specific instances usually include: 1) After doing inspections and due diligence, you decide that the house is not in the condition that you believed it to be and do not want to move forward. 2) After making a good faith effort, you are unable to obtain a loan. Or, 3) the house does not appraise for the sales price and the Seller will not reduce the price to the appraised price. If any of these situations arise and you do not move forward with the sale, the deposit will be returned to you.
Posted in: FAQ for Buyers