Practice Areas

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

Why does a seller want a contract deposit?

A: By signing the contract the seller is now obligated to sell to the buyer so if the buyer defaults the seller looks to keep the contract deposit.  The deposit shows the buyer is serious about buying the house and is normally the maximum amount the seller can seek should the buyer default (break the contract).