RON PERRY

Yes your earnest money is fully refundable unless you agreed to make it non-refundable in your contract/agreement to purchase. I'm very sorry to hear about your job loss. I know this is probably not of any comfort but, you're not alone. Job losses are happening all around. Hopefully another one will materialize very soon for you.
Sounds like you may have given the builder the $1000 earnest money which means while you are entitled to a refund some times a builder will be slow to refund. Hopefully not in your case. Since you lost your job and can't qualify for the loan, the builder knows he doesn't have good cause to not refund your deposit. It would be good for the lender to whom you made application submit a letter of disapproval/loan rejection to the builder ASAP. If you have a Realtor who is representing you they should be interfacing on your behalf and making sure you get your earnest money refund. If not, when this event is over, you would be extremely wise to have a professional Realtor represent you before you venture back out in the market. If you run into any problems getting a suitable resolution, post back and I'm sure you'll get some guidance from the many other highly skilled professional Realtors reading this post. In a way, you could say a Realtors job is somewhat like that of the service we receive from our police----to serve and protect.

Best wishes,
Ron Perry, CRS
Keller Williams Realty
ronperry2@gmail.com
972.741.8141 - Tue Nov 17 2009, 20:11