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Refund of deposit on contingent purchase agreement

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jemcinerney

New member
What is the name of your state?Michigan
I had a purchase agreement in which I told the seller (FSBO) the offer was subject to the sale of my house.
She provided a purchase agreement she obtained from a local title agency which we used for the agreement.
I had (still do ) my home listed with a local real estate agency. I did not have one offer on the home during the 45 days that was stated in the agreement.
The Agreement expired on July 15th and I have yet to get my deposit back. ($1000)
I would like to know what my rights are before asking what happened to my deposit.

I thank you for any help with this matter.
 


PayrollHRGuy

Senior Member
As one of our other senior members likes to say, you have any number of rights but listing them will do you no good.

If you are owed money, and it sounds like you are, you ask for it. If you don't get it then you start worrying about your other options to collect.
 

LdiJ

Senior Member
What is the name of your state?Michigan
I had a purchase agreement in which I told the seller (FSBO) the offer was subject to the sale of my house.
She provided a purchase agreement she obtained from a local title agency which we used for the agreement.
I had (still do ) my home listed with a local real estate agency. I did not have one offer on the home during the 45 days that was stated in the agreement.
The Agreement expired on July 15th and I have yet to get my deposit back. ($1000)
I would like to know what my rights are before asking what happened to my deposit.

I thank you for any help with this matter.
Did you tell the seller that your house didn't sell? Did you ask the seller for your deposit back? You need to communicate with the seller.
 

adjusterjack

Senior Member
I would like to know what my rights are before asking what happened to my deposit.
Your rights are exactly what is written in your purchase contract regarding the contingency. Did you read the contract? Did you make sure the contingency was written the way you want it?
 

rita bos

New member
What is the name of your state?Michigan
I had a purchase agreement in which I told the seller (FSBO) the offer was subject to the sale of my house.
She provided a purchase agreement she obtained from a local title agency which we used for the agreement.
I had (still do ) my home listed with a local real estate agency. I did not have one offer on the home during the 45 days that was stated in the agreement.
The Agreement expired on July 15th and I have yet to get my deposit back. ($1000)
I would like to know what my rights are before asking what happened to my deposit.

I thank you for any help with this matter.
If there is a Real Estate Agent between you and seller then you can demand your money through the Agent too.
 

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