Contract law questions please help i need any advice!?

Sep 11, 2009 in Commercial Mortgage FAQ

Contract law question please read need help!!!!!!!!!!!!!!!!!!!?
I signed a commercial loan contract with a lender/broker, i gave 2900.00 to the lender/broker after signing it
I signed a commercial loan contract with a lender/broker, i gave 2900.00 to the lender/broker after signing the contract. The contract was for the company to find me financaning but they could not find me financing. Thus they said in the contract it clearly states that there is no guarantee for the 2900.00 packaging and due dilligence fee to be refunded at all, do i have any case? I read the contract it sais that the fee is not refundable if they pur forth their effort to pursue financing, and something changed due to the market and a whole list of other stuff. They searched for a loan for me for 3 months and i guess i cud not get the rate they quoted me and did not get a loan at all, this contract was written in california, the broker is in california, and i am in florida? Thanks.

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2 comments

Yellow fruit of the loom guy? on September 11, 2009 at 2:29 pm

Since you are already out $2,900, you might want to ask a lawyer about this. You read the contract and they seem to have fulfilled it. I’ve never heard of such a contract. Before we do anything like buy a house, we make sure our lawyer reads every document. That’s saved us $$$ in the long run.
rustybones on September 11, 2009 at 2:29 pm

You have no case. You were taken for a ride………

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