If after putting up earnest money for a home then getting a home inspection we did not buy because of problems, can we get our money back?
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If after putting up earnest money for a home then getting a home inspection we did not buy because of problems, can we get our money back?
Dangerous cracked wires, HVAC system exhaust rotted into in ceiling, we had a $500 repair cause for the seller. We turned in the sheet to the realtor company. They replied that the house is liveable and the earnest money cannot be returned. They did ask if I would consider the seller buying a 1 year home owner warranty. I said we were not buying because of the problems with the home. Who should determine the $500 repair, the seller or the buyer. The realtor never question us about the repair sheet that we turned in.
Asked on July 19, 2012 under Real Estate Law, Arkansas
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you have incurred fees (repair fees), I think at this point you may have lost the money if you only used it to hold an option on the property. You need to check the contract and demand your monies back. Ultimately, if the seller knew of all of these problems and this home is being sold as is, then you should absolutely file complaints with entity who regulates the seller's agent. Ultimately, you need to check your paperwork.
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