Walking away from a deal, can i get my money back?

[Toan Hoang]

I am not a super novice investory but I am far from super experienced either as the below post will indicate.  So far the deals I have done have been relaively smooth wiht some minor hiccups. However most recently I put an offer in on a property and signed an AOS with settlment approaching.  The Agreement of Sale represents that the property is a Multi Family Residential.  However I find out when I try to get insurance that it is Commercial Mixed Use that requires it to be an owner occupant on one floor with the rest of the building commercial.  ANS the insurance on such property is more expensive.  Shame on me for not knowing this in advance since the property was being rented and used as a multi family when I saw it.

Secondly I come to fine that the property is ALSO in a Historical Overlay which requires me to go through extra hoops if I want to do ANY renovations.  With all this being said do I have a right to get my earnest deposit back?  if I take that the seller mispresnted the zoning and use?  Property is in New Jersey.