Updated about 11 years ago on . Most recent reply
Seller wants a piece of the earnest money......
Guys
I wanted your opinion on the situation I am facing currently. I was in contract on a duplex property on 7/9/2014. I had an inspection done on 7/18. In that inspection it came out that the duplex had common utilities. I went back and forth with the seller about the utility bills and the seller couldn't help me out with it. I decided on 7/26 that's it's gonna be too much of an hassle and signed and sent the earnest money release form. Now the seller wants the earnest money and refuses to sign it back. What are my options and how does an person get out of it? Any help is appreciated. Thanks.
Why are some people so difficult...
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#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
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#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Did you provide your requests regarding the defects to the seller before the 21st? In writing and signed? And the seller didn't agree to those written requests by the 26th? If so, I'd think you would have a case to get your EM back.
If you didn't make a written request to the seller by the 21st then I think you're going to lose your EM.
If I was the seller I would have refused any accommodation as a result of common utilities. That would have been obvious, no inspection needed. So I would have assumed that was built into your offer and you were just trying to beat me down on the price for a situation you knew already existed before you made your offer.