How to get back my earnest money?

Asked by Edward Thomas, Upper Marlboro, MD Sat Sep 6, 2008

I put down 25,000 dollars on a house a year ago. I lost my job and the ability to get financed. The builder (D.R. Horton) refuses to give me my money back! What are my legal alternatives and does anyone know a real estate lawyer in D.C , MD. area?

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7
real estate…, , Montgomery County, MD
Sat Sep 6, 2008
Does your contract have a financing contingency? if yes, then you should be ok.. and any builder will immediately cooperate and if not, there must either be no contingency or more to it...
1 vote
Melissavac78…, Home Buyer, New York, NY
Wed Aug 24, 2016
I am having the same issue with DR HORTON. They have $29000 deposit and will not refund my deposit even though I was denied for mortgage with there own lender. What is the point of financial contingency if not to protect you from this? I hired an attorney who demanded my money and they won't respond forcing me to either give up or sue. According to my attorney they will tie me up in court for years. Anybody know how to fix
0 votes
Scott Godzyk, Agent, Manchester, NH
Sun Sep 7, 2008
first you need to read your contract. was there a contingincy written in a way "contingent upon obtaining financing" and did you give the builder a denial letter within that specified period of time. Those two items are key! Review your contract and yes you probabily will need to at least get a free consultation with an attorney who can review your contract and the dates for you. good luck in getting your money back edward.
Web Reference:  http://www.ScottSellsNH.com
0 votes
Alaric Gothic, , Joppa, MD
Sun Sep 7, 2008
You left out alot of details,this is a better big deposit so it must have been a better big house.If you made alot of choices about the interior and then lost an abilityto pay for the house I can see why they keep the deposit.D.R. Horton are a big builder so I imagine they considered everything before keeping your deposit.A couple of years ago they would have bended their rules and given you the money back.However the house you had built is not what someone else would want so they have to dump it now.
0 votes
Fernando Her…, Agent, Gaithersburg, MD
Sat Sep 6, 2008
If you had a financing contingency and you couldn't get financing you are entitled to your earnest money. . since the builder refused to give your money back. .it's probably not. If you want to contest it. .you should get a lawyer.
0 votes
Kim Mills, Agent, Crofton, MD
Sat Sep 6, 2008
Hi Edward,
If you call me I would be happy to give you the name of a real estate attorney, that I would use if I needed one.
Or you can look in the yellow pages and see who specializes in real estate. Just curious, why did they say they would not give the deposit back?
Kim
Web Reference:  http://www.kimandrenie.com
0 votes
Bill Eckler, Agent, Venice, FL
Sat Sep 6, 2008
Edward,

You are heading in the right direction by requesting information about attorneys. Sorry to hear about your run of bad luck......

Good luck,
0 votes
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