What happens to my earnest money deposit if we do not complete the sale?
Your earnest money maybe returned to, it might not be returned to you. It depends on the circumstances of why you are not completing the sale. If you intentionally breached the contract, you’re at risk of losing your earnest money. If you apply in good faith for a mortgage and then are unable to obtain more mortgage financing, odds are your earnest financing is going to be returned to you, but in that situation, you’re really going to be relying on the advice of your real estate attorney.