Buyer Loses Job before Closing

[Pugsy]

We're building a home in PA. We purchased it through a realtor before it was built. We gave earnest money, paid
additional money for kitchen options, and money to finish the
basement. The home is about 1 1/2 mo. away from completion. We didn't lock into a mortgage. My husband lost his job. Are we
entitled to get our escrow back and also the money we paid to
get the basement finished? (The basement is NOT finished yet.)

 

[HomeGuru]

What do you mean you did not lock into a mortgage? How were you going to pay for the construction?

Your questions can be answered by reading your purchase contract.

 

[Pugsy]

We bought the home from a realtor when only the foundation
was in, therefore we only had to put up earnest money, which I believe we will get back. We paid for the basement separately so it would not go into the mortgage. We want to know if we can get
this money back. It is not listed in our sale agreement, it was just
between us and the builder.

 

[HomeGuru]

You may be stuck with paying for the basement.