Can the sellers cause the earnest money to not be returned?
359996
You sister can get her money back there was no EXACT time all and your sister needs to argue it with them and if they still refuse file a claim in smalls claim court.
194770
My advice is this, a contract is not going to assure that they pay and yes you will be able to sue in small claims court the the money owed but if you feel that you don't want to deal with all that I have a solution. I happen to be an investor who buys real estate notes which you clearly have. Now I would be willing to cash you out and give a lump sum of cash for your property and you can walk away and not worry about it. durland78@yahoo.com
790336
Really complex area - some boffins spend all their lives looking into this.\n\nThe abbreviated answer is:\n* Yes, definitely if the property is less than three years old\n* Maybe if the property is more than three years old\n\nTechnically if a property is more than three years old it is exempt from VAT but the seller can waive this exemption (known as 'opting to tax') if they wish.  This will mean 17.5% VAT is charged on the sale (which the seller doesn't get to keep).  The reason the seller might do this is becuase if they sell a building and charge VAT they're allowed to reclaim VAT on any related costs (such as legal fees).\n\nOnce a building is 'opted' you can't change that status even if it changes hands. Therefore the next time its sold on VAT would have to be charged on the sale.\n\nThese rules only apply to commercial property - not residential.\n\nTrust me - get an accountant/tax adviser to assist - really complex area.
192000
This is going to cause lots of problems for so many reasons.\n\nIf you listed your house on FSBO but have a realtor's sign in your front yard - how will you explain that to prospective buyers without coming across as shady?\n\nAnd if that buyer has an agent? That agent is required to work with your listing agent.\n\nShort answer: Pay the commission out of your proceeds which are split between listing and buying agent but make the listing agent earn every penny.\n- Make sure the buyer is qualified\n- Handle the inspection\n- Manage the negotiation\n- Manage the contract process\n- Make sure the closing goes smoothly\n\nGood luck - I think you're going to need it.
799102
I work for a real estate agent. Situation like this doesn't happen very offen. I'm surprised that happened to you. I doubt it will happen agin!
416335
There are some contracts that can be rescinded if acted on within three days, but not a travel contract, as far as I'm aware. However, there is a separate code section for sellers of travel (http://www.leginfo.ca.gov/cgi-bin/displaycode?section=civ&group=01001-02000&file=1688-1693), which might apply to your case.\n\nThe problem is that if the vendor refuses to return your money, then your only recourse for the amount of money to cover a weekend stay and car, is likely small claims court.\n\nThere's no legal means to force the vendor to return your money without obtaining a judgment from the court.
638680
Unless you are the buyer or the seller, it's really none of your business. If you try to approach potential buyers, and you do not word things in exactly the correct way, you could get sued when they decide not to buy. The buyers will be having a home inspection prior to closing; hopefully they've selected a good home inspector who will catch these things. But you should stay out of it unless you have a financial interest in the sale of the home, or unless you like getting sued.
640033
In most cases the only way for a seller to get out of a contract is due to non-preformance on behalf of the buyer.  Otherwise, mutual agreement would be needed to cancel the sale.\n\nEthical solutions:\n1) Sell to them unless they don't perform\n2) Tell them you reconsidered, and if they don't want to let you off the hook, offer to buy their cancellation\n\nLess than ethical solution:\n1) Falsify disclosure items (i.e. the sewer pipes drain to the backyard, previous owner was murdered in the bedroom by an assailant that was never caught, roof is leaking, etc)
463520
The lender may have a form to fill out - Ask.\n\nIf not...\n\nI____(name)______,of______(address)______, _____(relationship-mother/father/sister/etc.)______, of ___(recipient of gift)________ will give/have given him/her a gift of $__________.\nThis is a bona fide gift and there is no obligation, expressed or implied to repay this sum at any time.  The donor herein certifies that the funds given to the recipient were not made available to the donor from any person or entity with an interest in the sale of the property including the seller, real estate agent or broker, loan officer, or entity associated with them.\nSignature and date of both donor and recipient.\nDonor's phone number (with area code)
119049
This really does depend on the state and the what's in the contract...but...\n\nI am NOT in Florida, but here there IS language in the standard real estate contract for a financing contingency.  There is shows how many days a buyer has to make application and then how many days until a buyer must have full loan approval.  Usually a buyer has to provide a loan commitment letter from his lender showing he got the financing before this contingency is removed.\n\nIn the states near me, IF the financing terms are filled out on the contract and IF the buyer can not get the terms stated or better, than YES he can void his contract with the financing contingency. The only exception is if he waited too long to get the loan rate locked.\n\nIF there is NOT a financing contingency (none in the contract, the buyer waived it, or the contingency was removed with the letter you have), then the buyer would be defaulting if he does not settle and its possible you would be able to go after his earnest money deposit.\n\nThe best advice would be for you to consult a real estate lawyer with your contract and all the facts.  It's the only way to be sure.\n\nP.S. -- I would not always blame the buyer -- many lenders out there give "pre-approvals" with great rates and then the buyer finds out AFTER full application that the rate they qualify for is much different OR that there are hefty closing cost fees associated with it.
205205
Let's take a step back here...\n\nI'm going to assume that you have met the following conditions:\n1. Counter-signed contract by both parties\n2. Cashed escrow check deposited by the seller (or escrow agent/title co, someone)\n3. As buyer, you did not default in any way by breaking any timelines, and are currently or were not in default under the contract terms and conditions, including current closing date.\n\nIf you have met these above conditions, the seller would be in default if they did not sell you the property.  In this case each state has specific remedies... along the lines of this:\n\n1. You'd set a closing date (probably set on the contract)...\n2. Seller does not close, therefore in default\n3. File a Lis Pendens (pending litigation)\n4. Begin a Specific Performance proceeding forcing the seller to close.\n5. If seller looses you are entitled court costs, and potentially damages (loss of locked interest rates) and the such.  The court will appoint a referee to handle the sale if the seller is still uncooperative.\n\nYou will want to hire a REAL ESTATE attorney.  Not attorney Bob down the street; make sure that they are real estate attorneys specifically.  There are many ins and outs.\n\nThe seller has probably had a change of heart because they have received another, higher offer while you were in contract.  In most cases they will back down if they know you are represented.\n\nGood luck...
729719
Can't speak for Oregon, but in Michigan once you've signed the papers it's a done deal.  If you think the sellers took advantage of you, talk to a lawyer (many lawyers advertise in the Yellow Pages and give free initial consultations).  There may be a chance to get out of the sale, but the lawyer would have to review your closing paperwork, the inspection/appraisal, etc., and would have to show a material omission or misrepresentation on the part of the seller, and that can be tough to prove.
273903
It is not public record as the deal may still fall through and the seller would then be at a disadvantage for the next round of buyers. Sometimes your buyers-agent talking to the sellers-agent of the house of interest can gain more info than they should be able to since they might consider it a foregone conclusion. This is not something that sellers-agent should do though.\n\nAlso, this is kind of unethical if you are planning to use it for that house should it come back on the market. But if you are using it as a comp for some reason then you shouldn't feel as though you are doing anything wrong, just looking for advance knowledge that will be know eventually anyhow.
930217
The buyer CAN sue for performance.\n\nYou really messed up!\n\nGood Luck!  You are gonna need it!!!  Maybe something will happen along the way and the buyer will not want it.\n\nHere's a tip:  Depending on your state, if termites are a problem then if you can get them to get a termite inspection then the results have to be reported to the state and if it is deemed necessary that repairs are made before the buyer can get financing and you refuse to pay for repairs then you may just get yourself out of this deal.  But note that once the inspection is done the results are kept on file so when you want to refi or sell the repairs will have to be made.\n\nOh, and this wasn't a nice thing that you just did to your agent.  You probably signed something with them that stated that if you did this then they would still be due a commission.  At this point it might not be worth it to not sell.  Change is good.
966982
Real estate taxes are reassessed when a transaction for consideratio occurs. In this case, is money changing hands? If no, then the transfer is "without consideration" and taxes remain the same.
1042488
Your realtor would not have access to that info.  S/he can try to feel out the other agent, but there's nothing to say the other agent will be telling the truth.  Come to think of it, there may not even be multiple offers, it could be a negotiating ploy.
838555
Not sure what you are talking about here.  One thing I know about real estate is that you can ask for anything... so yes, ask them for a refund.