No Contract-Can we get our inspection $$ back???

[Disgusted In NY]

We live in the state of NEW YORK and are selling our home to buy a new one.

We made our purchase offer on May 27th and our binder offer (along with $3,650) was signed and accepted. We finished our final inspection on the house on June 10th. Inspections cost us $870.

We have been waiting since June for a contract (which should usually take about 10 days), but have not received one. The seller's agent kept telling us that it was "in the mail", but then we found out that their house fell through. Their real estate agent has also changed brokers, so I'm sure they are trying to pull some "funny business" as far as commissions are concerned. They claim they are looking for another house and that they need time.

We would like a contract ASAP or our inspection money back. How long can they legally "claim" that they are selling their house without giving us a contract or our money back??? I can understand a delay, but we have nothing truly legal that says they have to sell us their house. They can tell us they are selling until the cows come home, but it means nothing to us without the contract - not to mention we may lose the buyer for our own house if they delay too long.

They claim they are not liable for the money if they keep "saying" they are going to sell. Can we legally get our money back or find out how long they can blow smoke???

[HomeGuru]

Originally Posted by Disgusted In NY

We live in the state of NEW YORK and are selling our home to buy a new one.

We made our purchase offer on May 27th and our binder offer (along with $3,650) was signed and accepted. We finished our final inspection on the house on June 10th. Inspections cost us $870.

We have been waiting since June for a contract (which should usually take about 10 days), but have not received one. The seller's agent kept telling us that it was "in the mail", but then we found out that their house fell through. Their real estate agent has also changed brokers, so I'm sure they are trying to pull some "funny business" as far as commissions are concerned. They claim they are looking for another house and that they need time.

We would like a contract ASAP or our inspection money back. How long can they legally "claim" that they are selling their house without giving us a contract or our money back??? I can understand a delay, but we have nothing truly legal that says they have to sell us their house. They can tell us they are selling until the cows come home, but it means nothing to us without the contract - not to mention we may lose the buyer for our own house if they delay too long.

They claim they are not liable for the money if they keep "saying" they are going to sell. Can we legally get our money back or find out how long they can blow smoke???

**A: you are entitlled to your binder money back but not a reimbursement for inspection fees.