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Arizona : New Construction Deposit

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redat9

Junior Member
What is the name of your state? AZ

I bought a new home in Arizona, and I put a 15K :eek: Deposit down on it, The house was completed, but I told the builder I wanted out, due to the market, and the property value didnt go up much, this was right before it was complete. She said" no way will I get the deposit back". They said that I can get out of the contract and that I could sell the house right away, cause in the contrat it said that I could not for 1 year. I said " no " to that. Second, she said that she can lower the price of the home to make the payments easier,and bring it down to market value again I said no. Third they offered to let me use the money I used as down payment to another property in arizona with that builder, not as a down, but as part of the closing, which I would have to come up with another down... What should I do? I need that deposit money back. Aahhhhhhhhhh
 


lcannister

Senior Member
I need that deposit money back. Aahhhhhhhhhh

To bad because unless there are some contingencies in the contract that state you can just change your mind at will, you will not get a penny back. Read the contracts and IF you do not understand them get a real estate atty to decipher them for you.

I'd say bye bye barring contractual protection!
 

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