womenncharge22
Member
North Carolina
Back in 2004, I was looking to buy a house. I found one I liked and made an offer, at the same time putting down $500.00 in earnest money. The offer was contingent upon the financing. Neither of the agents thought this would be a problem. We had a closing date and everything when all of a sudden I got a call telling me that the house was appraised at a significantly lower amount than the mortgage company was comfortable with. My mortgage company was not going to approve the loan, so we asked the seller to come down on the price but he refused. In the end we went our seperate ways. I contacted his agent requesting that my earnest money be returned. His agent stated that he had already tried to get the sellers signature for the money to be returned and the seller refused and fired him! I never broke the contract, so I am wondering if there is anyway, especially after so long, for me to recover my earnest money? Any help would be appreciated.
Back in 2004, I was looking to buy a house. I found one I liked and made an offer, at the same time putting down $500.00 in earnest money. The offer was contingent upon the financing. Neither of the agents thought this would be a problem. We had a closing date and everything when all of a sudden I got a call telling me that the house was appraised at a significantly lower amount than the mortgage company was comfortable with. My mortgage company was not going to approve the loan, so we asked the seller to come down on the price but he refused. In the end we went our seperate ways. I contacted his agent requesting that my earnest money be returned. His agent stated that he had already tried to get the sellers signature for the money to be returned and the seller refused and fired him! I never broke the contract, so I am wondering if there is anyway, especially after so long, for me to recover my earnest money? Any help would be appreciated.
Obviously the $500 was not that important to you. Your laziness in trying to collect this will be the reason is it now uncollectible.