Needing some legal advice on a new build earnest money refund

[Beau Thompson]

Does anyone know any real estate lawyers in Arizona? I put down $10K earnest money on a new build townhome 6 months ago and am not able to get the townhome and want my earnest money back or push it to another unit that will be built in 6 months. Need to know my options. Thanks

[Russell Brazil]

Why cant you get the townhouse?

Builder contracts are very 1 sided. It's incredibly hard to recover an EMD from a builder.

[Beau Thompson]

@Russell Brazil I was waiting on two spec homes to sell but I'm about 2 months too early. Mt DTI is maxed out until I sell these spec homes and pay off some debts.

[Chad McMahan]

Quote from @Russell Brazil:

Why cant you get the townhouse?

Builder contracts are very 1 sided. It's incredibly hard to recover an EMD from a builder.

Agreed.
Typical EMD reimbursement with resale real estate is mediated/decided by the title company, and theoretically unbiased. EMD reimbursement for new build is potentially decided by the builder- depending on the stage things are at and how it was collected and where it's held.

Try Francis J. Slavin, P.C. in Phoenix, if you want to pursue recourse.

[Tom Gimer]

@Beau Thompson Perhaps the best solution would be to find a buyer (perhaps another investor on BP) to assign your contract to for the $10k?