? about downpayment made

[Jill]

How long after you give a downpayment for a doublewide can you get it back if they don't deliver the home? We've not signed any papers, but gave a $4,000 downpayment check for a home in good faith for a home. In return she gave us a bill of sale for the house. We also purchased 1 yr. of insurance on this house. After doing so, the lady that we are buying the house through found an even better house for us and just wanted to swap everything over through our finace company. The cost was to be the same and we were to call our insurance company and have them swap over serial numbers and info for the new house. Here is the deal....it is a repo that can't be released until the end of the month. We gave her the downpayment check on the other house almost 1 month ago. We went and picked up our check at the insurance company and will pay it the day we get the house. The lady is now saying she will just hold on to the downpayment until we get the other house.......We are scared she is trying to keep our money and give us no house! Is there a limit on how long hey can hold on to the downpayment without us losing it?

Thanks,
Jill..........just so you know, the 'lady' we are dealing with buys and sells repos for a living and works out of her home.

[rmurray]

OUCH.....Ask for your money back now....obviously she sold the other home for more money...or never had the right to sell it at all...

There maybe a few folks out here doing this right...but not many..Question..are you in central GA??...I know of 1 lady in this business that is legit..

If they are legit..they will understand your concerns...and refund the money until the house is ready to sell....Ask them for their dealer licence....they have to have one in most states to do what they are doing...

Legally...I doubt they could hold any money..since they could not deliver the first home....If you signed a new purchase agreement they might be able to keep you hanging until they other home is ready...

[Jill]

No, I am not in Central GA. I am in Texas. We still have yet to receive our money and she is avoiding our calls. We are about ready to go to the sheriff's dept. for fraud and deception to try to get our money back. We don't know what else to do!

Jill