Home Buying in Milton>Question Details

Jamin Vail,  in Great Bend, KS

if we decided not to buy a house, can the realtor/seller keep our down payment?

Asked by Jamin Vail, Great Bend, KS Thu Mar 26, 2009

we changed our minds on a house and now the realtor is saying that she's keeping our down payment. the contract contingencies state that we are at liberty to back out of the sale for any reason and recieve our down payment back. where is the breach of contract?

Help the community by answering this question:

Answers

4
If you just change your mind, with no valid reason the seller could keep your deposit. I saw your other question. Sounds like it was listed as a modular, then you found out it is a moblie. That could be a reason to get out of the contract. I am not a lawyer, and I recommend you talk to one. Hope this was helpfull
2 votes Thank Flag Link Thu Mar 26, 2009
If you have a contingency that specifically states that "you can back out of the contract at any time for any reason and receive your escrow deposit back" I would think you are entitled to your deposit returned.
0 votes Thank Flag Link Mon Jan 28, 2013
Jacly,

The terms of your purchase agreement willl clarify the fate of your deposit money. We recommend reviewing this document closely and possibly referring it to an attorney for review.

Good luck
0 votes Thank Flag Link Thu Mar 26, 2009
Since I haven't seen your contract, I agree with Steve and would contact an attorney that specializes in real estate.
0 votes Thank Flag Link Thu Mar 26, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer