Laudecio v. K-Site 500 Associates

This is an appeal by the plaintiff buyers Louis and Lucille Laudecio from an adverse summary judgment entered in an action to recover a deposit on the purchase of a condominium unit. Without burdening this opinion with the detailed negotiations involving mortgage financing conducted after the plaintiffs entered into an agreement to purchase the subject condominium unit, suffice it to say that the plaintiffs eventually declined to close on the sale of the unit after obtaining a binding mortgage commitment and the defendant seller K-Site 500 Associates retained the deposit paid by the…