What Happens to the Deposit When a Real Estate Deal Falls Through in Alberta 💰

🏡 In this Q&A clip, Raman explains one of the most common questions buyers have — what happens to the deposit if the deal doesn't go through? Here's what's covered in this session:

💵 Before Condition Removal — If conditions like financing or inspection aren't satisfied, buyers can back out legally and get their deposit back.

📄 After Condition Removal — Once conditions are waived, the deal is firm. If the buyer backs out, they lose the deposit and may face legal action.

⚖️ Real Case Example — Raman shares a real scenario where a buyer in Toronto lost their deposit and had to pay the difference when the property value dropped. Understanding this process is crucial for new agents, buyers, and sellers to protect themselves and avoid costly mistakes.

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