Do you get your hand money back if you are unable to be financed through the mortgage company?

Lucianna P asked:


My commercial property was under agreement with a buyer who put $1000.00 hand money down with my real estate agent, but the buyer could not get financed. When I asked my real estae agent about the hand money, he said it would be returned to the buyer. When I purchased my home, I was told that if the deal fell through, I would lose my hand money & that I would not get it back?

Darrel