Is my deposit refundable?
One of the most common questions I get asked often is, is the deposit that is sent when opening escrow get refunded if we for some reason do not close? So the surface answer is, yes, however there are a number of different variables that could make this answer a “no”.
If your contract is written by our office your deposit will be 100% refundable up to certain period of time within the transaction. There could be a caveat to this which only happens 0.001% of the time and if that is the case you will be 1000% certain if this is applicable to you. For the remaining 99.99% your deposit will remain “refundable” all the way up to the last 1 or 2 weeks of the escrow depending upon how long the escrow process is.
We take this matter very seriously, so when the time does come in the transaction where we are required to make your deposit “non-refundable” you are very much aware of all the details surrounding that decision.