earnest money?

What is the name of your state? Texas
I was going to purchase a house with my brother. The closing date was set for July 26,2004. The first contract they said we would have to put down 3%. After about 2 weeks we figured out that would not be financially possible we couldn't afford that much money ($3960). We asked our realtor if he could find us a lendor that would finance 100%. So he did, I asked him if we needed to come in and sign any new papers he told us not to worry we would just rewrite the contract at closing. Well on July 25 he called and said all kinds of problems were coming up. That the lendor wanted me to have a longer employment history, and both of us to have a renters history. We told our realtor we could not meet these request overnight and wanted to know our options. He said if we found a cheaper house they would let us buy it no question. Now we are trying to get back our 500 earnest money and our realtor is saying since we never signed any new contract the money is the sellers. I feel like i've been ripped off because he didn't do his job. Also I would have never agreed to get an appraisel on the house if I wasn't approved already. So now my realtor said I must pay the appraisel or the appraisel company is going to sue me. Also my realtor said he is going to sue me if I don't pay it because they will not do business with him until I do. (The company has never once contacted me asking for payment) I'm not even sure an appraisel was ever done.

[HomeGuru]

Originally Posted by Pisces2107

What is the name of your state? Texas
I was going to purchase a house with my brother. The closing date was set for July 26,2004. The first contract they said we would have to put down 3%. After about 2 weeks we figured out that would not be financially possible we couldn't afford that much money ($3960). We asked our realtor if he could find us a lendor that would finance 100%. So he did, I asked him if we needed to come in and sign any new papers he told us not to worry we would just rewrite the contract at closing. Well on July 25 he called and said all kinds of problems were coming up. That the lendor wanted me to have a longer employment history, and both of us to have a renters history. We told our realtor we could not meet these request overnight and wanted to know our options. He said if we found a cheaper house they would let us buy it no question. Now we are trying to get back our 500 earnest money and our realtor is saying since we never signed any new contract the money is the sellers. I feel like i've been ripped off because he didn't do his job. Also I would have never agreed to get an appraisel on the house if I wasn't approved already. So now my realtor said I must pay the appraisel or the appraisel company is going to sue me. Also my realtor said he is going to sue me if I don't pay it because they will not do business with him until I do. (The company has never once contacted me asking for payment) I'm not even sure an appraisel was ever done.

**A: file a complaint against your idiot Realtor.