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View Full Version : Texas RealEstate Law on returning of earnest money?


hilj13
Jul 23, 2011, 08:08 AM
You want to buy a home from someone and they can get clear title and want more time than the closing date, that was ageed oponed.

JudyKayTee
Jul 23, 2011, 08:40 AM
Is there a "time is of the essence" clause in the contract?

I don't understand how them getting a clear title ("... they can get clear title...") holds the closing up - ?

joypulv
Jul 23, 2011, 08:52 AM
Any time one party wants to change a contract, deposits are refundable if the other party doesn't agree.
That being said, extensions (of time) are very common in real estate, and people get all upset if it doesn't happen, since it's gone that far. It would help if you gave more details - how much time is the extension for, and why exactly? Do they have a lien or some cloud on the title? Liens are paid off at closing. Problems with title often have to do with something like a spouse who died and the house was in his name and it never was probated and put in the name of the surviving spouse - something like that?

hilj13
Jul 23, 2011, 09:14 AM
There are two leans on the home one of the leans holder can not be found they have a 15 when a problem comes up to correct it. We don't have the time to wait we have to move out of our home we are renting because of mold and can't afford to say in a hotel past the closing date the owners will not let us stay in the house, after the closing day because of the home is homesteaded.

joypulv
Jul 23, 2011, 09:34 AM
Please explain 'they have a 15 when a problem comes up to correct it.'

JudyKayTee
Jul 23, 2011, 10:07 AM
You need to post AND explain a lot more details before anyone here can even begin to help you.

hilj13
Jul 29, 2011, 07:20 AM
Sorry they have 15 days when a problem comes up to correct it

JudyKayTee
Jul 29, 2011, 07:55 AM
Again - what does the contract say? What "law" contains the 15 day rule?