Astrada v. Archer

**What Happened:** This case involved a real estate transaction dispute between Astrada (the buyer) and Archer (the seller). Astrada had put down a deposit to purchase property from Archer but was unable to secure mortgage financing despite making good-faith efforts to obtain a loan. When the sale fell through due to financing issues, Astrada sued Archer to get the down payment back, claiming breach of contract. **What the Court Decided:** Both the trial court and appellate court ruled in favor of Astrada. The courts ordered Archer to return the full down payment plus statutory interest. The courts found that when a buyer makes genuine efforts to secure financing but cannot obtain a mortgage through no fault of their own, they are entitled to recover their deposit from the seller. **Why This Matters for Workers:** This ruling protects buyers in real estate transactions who act in good faith but face financing challenges. For workers looking to purchase homes, this decision establishes that if you earnestly try to get a mortgage but are denied, you shouldn't lose your down payment. The requirement to pay interest also discourages sellers from wrongfully keeping deposits, providing additional financial protection for buyers during real estate transactions.