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earnest money?

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D

day1

Junior Member
Wisconsin
We put down earnest money on a house from a private owner
We needed to sell our home first and explained this to the owner
Yet some days later they wanted us to sign a contract giving us
a closing date of no later then June 30th 2005. With no conditions
stating we would buy after the sale of our home. We refused to sign
the binding contract instead ask for our earnest money back.
They refused . We only have a receipt of the earnest money given
Without no binding contract can they keep the money?
 


I

itsacatsworld

Guest
Did the contract include your provisions about selling your house then yall acceptance? If not you have a valid contract you have to honor. Is there a clause where the inspector finds such n such you can back out?........dont ever buy a wooden structure without a warranty with at least 5 years. AND THAT MEANS A BUSINESS IN BUSINESS FOR AT LEAST 15 YEARS
. Plus you ask who his customers are and then make a decision........from experiance
 
P

PghREA

Senior Member
day1 said:
Wisconsin
We put down earnest money on a house from a private owner
We needed to sell our home first and explained this to the owner
Yet some days later they wanted us to sign a contract giving us
a closing date of no later then June 30th 2005. With no conditions
stating we would buy after the sale of our home. We refused to sign
the binding contract instead ask for our earnest money back.
They refused . We only have a receipt of the earnest money given
Without no binding contract can they keep the money?
Click to expand...

You should have had a Realtor or Real Estate Attorney help you with this transaction. From what you stated it looks like you just gave them a check and no one likes an Indian giver. Ethically and morally, they should give the deposit back but, you may need some help making them give it back.
 
P

PghREA

Senior Member
itsacatsworld said:
Did the contract include your provisions about selling your house then yall acceptance? If not you have a valid contract you have to honor. Is there a clause where the inspector finds such n such you can back out?........dont ever buy a wooden structure without a warranty with at least 5 years. AND THAT MEANS A BUSINESS IN BUSINESS FOR AT LEAST 15 YEARS
. Plus you ask who his customers are and then make a decision........from experiance
Click to expand...
Are you hitting the bottle tonight?
 
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