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rent with option to buy

does anyone know the answer to this question?  i have tennants in my home they signed a lease for 1 yr.  they also signed and addendum for with rent with the option to buy.  they gave a deposit with the contingency to obtain a mortgage by a certain date or they will forfeit the deposit.  the state is new jersey.  my question is if they do not obtain a mortgage by said date they lose the deposit.    
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This is a touchy subject... you may want to consult an attorney within your state.
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