Steph, Home Buyer in California

Will we be able to get back our $15,000 deposit on a new home that is scheduled to be completed in July?

Asked by Steph, California Tue Apr 1, 2008

The reason for us backing out is the home is to be build near powerlines and a tower. In all our excitement, we failed to even notice the lines.

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Rich Steiner, Home Buyer, Surprise, AZ
Sat Apr 25, 2009
There are many reasons a new home may not be acceptable to a buyer besides unnoticed powerlines.You may find many things lacking in the building process and although the attorney advice is almost mandantory to take the difficulty of getting back your dep.osit should not be too difficult
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J R, , New York, NY
Tue Apr 1, 2008
You'd better talk to an attorney. You didn't notice powerlines? How close is the house to the powerlines?
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Eric Bryant, , Long Beach, CA
Tue Apr 1, 2008
Seek teh advice of a competant Real Estate attorney. Too often consumers feel they can handle these types of problems themselves to save money, yet that rarely happens. Please listen to the gentleman making this same suggestion. I wish you the best of luck. "The Coach"
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Larry Story, Agent, Greensboro, NC
Tue Apr 1, 2008
Ryan is correct you will have to take your contract and speak with a real estate attorney. It is the wording of the contract that will determine what you are able to do. you may end up having to forfiet some of the deposit. The sooner you act though the better. I am guessing that you had to put so much down because of upgrades. So the sooner you stop the builder the better able he will be to not put in your color choices and upgrades. This will make it easier for them to sell.

Larry Story
Coldwell Banker Triad
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Ryan Vivo, , 94533
Tue Apr 1, 2008
To find out the answer to that question you need to review the purchase contract. What do the details say? Many times buyers who back out of a contract after putting down an earnest deposit DO lose their money. If you are unsure then I suggest that you a real estate attorney to review it for you.
If you have anymore questions regarding real estate in the Solano area give me a call. Ryan Vivo, Real Estate Agent, Gateway Realty. 707-384-5894
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