Question Details

Rebecca Floyd, Home Buyer in North Augusta, SC

I changed my mind about buying a home, after giving 3000. Can he keep $?

Asked by Rebecca Floyd, North Augusta, SC Sun Apr 1, 2012

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3
Irina Karan’s answer
Hello Rebecca,

The best thing would be to read your contract carefully, and, if not sure, to see an attorney.
If you cancel within time allowed to inspect, you should be fine canceling the purchase, and your escrow money ($3,000) will be safe. If you don't get the mortgage for certain reasons, and tell the seller about it before your commitment date (in writing), you don't have to buy and you get your escrow money back. If your property does not appraise into the purchase price value, same thing...

However, even if you change your mind, with the help of an attorney, there could be other ways to either getting all of your escrow or a portion of it back.

Hopefully, you are still in the inspection time period...good luck to you!

Irina Karan
Beachfront Realty, Inc.
305-904-2355
IrinaKaran@gmail.com
0 votes Thank Flag Link Sun Apr 1, 2012
There is no contract. nada . nill, nothing at all what so ever in writing.. He said he was going to wait utill he rents it out to tell me what this has cost him
Flag Sun Apr 1, 2012
It all depends on your contract terms. If you have not removed your contingencies, it's possible to get out of the contract and keep your full deposit. Have you discussed your intentions with your agent yet?

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
0 votes Thank Flag Link Sun Apr 1, 2012
yes.. went took pictures.. and I do have the document from water company that he was renting on month to month basis.. He thinks I am simply going to go away.. Talking to lawyer tomorrow thanks so much. Bec
Flag Sun Apr 1, 2012
Start documenting everything (conversations, calls, messages, texts, emails, letters, etc.). Dig up everything you have in writing and contact an attorney immediately. See if they will do this for you pro bono or for a flat fee. You don't want the spend $3,000 or more to get back $3,000.
Flag Sun Apr 1, 2012
No contract, I simply gave him 3000 and was set to move in... we discussed the school district. which turned out to be wrong... house was jacked up by 25 thousand dollars due to him financing. I simply could not move forward. So he got really mad.. but nothing at all signed and I have in his writing that he was only renting it to me on a month to month basis so the water company would turn the water on in my name.
Flag Sun Apr 1, 2012
Can you pleaes eleborate on your question. After giving who 3000 and how? With a little more detail, we can assist you better.
0 votes Thank Flag Link Sun Apr 1, 2012
I was simply stupid.. I was just so glad for the owner financing. but once I realized bad neighborhood and jacked up price I just couldnt go for it.. I even had all the utilities turned on.. But just could not go for it. it at 2731 Travis Pines Drive Augusta Georgia.
Flag Sun Apr 1, 2012
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