Home Buying in Dayton>Question Details

Buffbison82, Home Buyer in Dayton, OH

If I submit my deposit and bid offer and it gets rejected, will I get my deposit back if I do not resubmit

Asked by Buffbison82, Dayton, OH Wed Aug 26, 2009

If I submit my deposit and bid offer and it gets rejected, will I get my deposit back if I do not resubmit another offer?

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5
Buff,

If your offer is rejected, you are certainly entitled to a full refund of your deposit. If you plan on submitting a follow up offer on a different property, many buyers will elect to leave these funds in escrow in anticipation of a second offer.

Once the offer is void, you can request these fouds to be refunded at any time..

Good luck
0 votes Thank Flag Link Thu Aug 27, 2009
buff,I think ur referring to earnest money,if you submit an offer and dont get it,you only give earnest money if ur offer is accepted,and you still could get ,if certain contingencies arent met.

TJ
0 votes Thank Flag Link Thu Aug 27, 2009
Actually, it is not necessary for you to actually provide earnest money when submitting a purchase contract for real estate. I state on the contracts I write that the earnest money will be deposited with the buyers brokerage once the contract is accepted by the seller. Having said that, if you do provide it at the time the contract is written, it is fully refundable if the seller doesn't accept your contract!
0 votes Thank Flag Link Wed Aug 26, 2009
You should. Make it clear in the contract to protect yourself. Most Realtors specify that the Earnest Money (deposit) be deposited upon acceptance. No contract, no deposit of your check.
0 votes Thank Flag Link Wed Aug 26, 2009
Buffbison82,

Yes, you get your earnest money (deposit) back if the seller does not accept your offer.

P.S. Ask about the FREE Sale GUARANTEE Plan and FREE Job Loss Mortgage Payment Coverage.

Christina Asad Edwards
Realtor, RRS, eAgent, Recruitment/Development Manager
Christina.Asad@RealLiving.com
Office 937-573-0082
Cell/Text 937-205-4741
http://www.DaytonOhioHouse.com
Real Living Realty Services
One of the fastest-growing real estate franchisors in the nation.
0 votes Thank Flag Link Wed Aug 26, 2009
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