Practice Areas

• Personal Injury
• Zadroga Bill
• Social Security Disability
• Workers' Compensation
• Real Estate Law
• Business Law
• Franchise Law

Why does a buyer want to give a contract deposit?

A: When a contract is signed the buyer can confidently expect to the the house if his mortgage is approved.  After the signing the seller cannot accept other offers (even if they are better) and unless the contract is properly cancelled, the buyer can seek to force the seller to sell him the house (specific performance) if the seller tries to get out of the contract.