Legal Question in Real Estate Law in California

Re: Real Estate Deposit

Look at your contract, which should describe the deposit return policy in detail.

Re: Real Estate Deposit

This is indeed a matter of contract, but in many instances there is a statutory cap on what amounts to a penalty for breaching a contract, or some other specific provision of law.

In your case, California Civil Code section 1675(f) contains some very specific provisions that seem to apply to your specific situation, and they do seem to offer you some hope of at least a substantial if not complete refund.

I have not memorized the link to look up California statutes (I should), but you can probably find this Code provision on line without too much difficulty.

1675 is a lengthy statute in all, and subpart (f), dealing with newly-built condo deposit refunds upon a buyer's default, is several paragraphs long (so I can't quote it here), but if you fall within its provisions, and I think you do, you'll find it worth studying.

Re: Real Estate Deposit

You are asking a question of California law, so you are best advised to consult with a California attorney. In general, agreements for the purchase and sale of real estate are typically determined with respect to where the real estate is located. Different states have different requirements, so a scenario in Massachusetts might turn out differently than the same scenario in California.