I am selling my current home. I accepted an offer from a buyer entering into a contract. Afterwards, the buyer came into the house with their home inspector. They found simple drywall cracks at various places in the house. They are requesting their earnest money back because of unsatisfactory home inspection. However, the issues they have specifically listed are simple dry wall issues which should fall under the description of "cosmetic problems" within my contract. Shouldn't I be entitled to the earnest money myself if this is the case?

They just want out of the contract, so cut your losses and start over again.

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Originally Posted by bulldawg1974

Shouldn't I be entitled to the earnest money myself if this is the case?

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Hello bull:

That's an excellent question. It SHOULD be addressed to the attorney you have representing you for this sale. Because even if WE told you that you're entitled to it, THEY'RE not going to believe YOU and they're going to sue you for it anyway. They're especially not going to believe you if you tell them that you heard it from an exconvict on the internet.

You need MORE than a legal opinion. You need someone to fight for your rights. I'd run quick like a bunny, to a lawyers office.

excon

Quote:

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Originally Posted by excon

Hello bull:

That's an excellent question. It SHOULD be addressed to the attorney you have representing you for this sale. Because even if WE told you that you're entitled to it, THEY'RE not going to believe YOU and they're going to sue you for it anyway. They're especially not going to believe you if you tell them that you heard it from an exconvict on the internet.

You need MORE than a legal opinion. You need someone to fight for your rights. I'd run quick like a bunny, to a lawyers office.

excon

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So what happens to the Earnest money if I simply do not sign for its release. Even if I wait past what the supposed closing date was going to be within the contract?