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ewwood2 · Sep 10, 2007, 10:02 AM

We had a contract for our house and it was off the market for 1 month. There were some minor home inspections issues. We went back to them with a resonalbe offer fix the "problems". That was not acceptable to them and they got an estimate from a consultant. We finally received the estimate from the buyer's and although it was very unreasonable after a couple of more times we agreed to meet their demands. They in turn backed out of the deal and now want their deposit back. Since we did finally agree to all of their terms, had the house off the market and it is now 3 weeks before closing feel that they can not jut wake up one morning and decide that they do not want to purchase our house and get their full deposit back. What are contracts and deposits for?? Because of the contract we missed 1 month of prime showing and possibly missed out on another offfer. Do we have a legal leg to stand on and not give their deposit back?

Please advise.

Emland · Sep 10, 2007, 10:06 AM

I would say absolutely you are entitled to the deposit. On what grounds are they backing out? They appear to be in breach of contract. What does your agent say?

ewwood2 · Sep 10, 2007, 10:24 AM

Our agent says that we should be entitled to the deposit but our attorney says that we do not because we did not accept their demands immediately upon receiveing them. The problem that I have is that I do not trust our attorney 100%. He was referred by the agent but right from the get go does not seem to want to do more work than necessary even though we are paying him. I fell that this would just be work for him that he is not willing to do. He appears to want easy outs all of the time. I am desperately looking for advice and resources that will back our case. I strongly feel that they do not have a right to their money. Part of the contract reads that the Buyer acknowledges that the property is being sold in an "As Is". There is also something that says if the report concludes that adverse physical conditions or envirnonmental conditions exist that affect the habitability of the property the Buyer has the right to 1.Accept property As Is 2. Correct the defects at his expense if correction is necessary in order to close title 3. Declare the contract null and void and have all deposit monies returned. None of this is the case in the Home Inspection report. In order for me to bring closure to this matter I have to completely understand why we are not entitled to their deposit. In any other case why you put a deposit down on something if you choose not to go through with the purchase you lose your money?? Very baffled and frustrated.

ScottGem · Sep 10, 2007, 10:32 AM

The buyer obviously felt that your refusal to go along with their contractor let them out of the contract. I think they are wrong. The fact that they backed out AFTER you finally agreed to the fixes negates that.

Go back to the buyer, read them the terms of the contract and tell them, according to the contract they have no grounds to void it. If they decide to back out, then you will be keeping the deposit as compensation for your losses.

Let them sue you.

Emland · Sep 10, 2007, 10:34 AM

I am not lawyer, but it doesn't make sense to me. All they can do is sue you in small claims. It will depend on the judge.

I think you would be within your rights to sue them to fulfill the contract. However, I am not an attorney. Maybe you can get a free consult from another lawyer.

ewwood2 · Sep 10, 2007, 10:35 AM

Thank you for your advice.