Do I Get My Earnest Money Back If Financing Falls Through

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How do I get my money back from a fraud? You have no proof of even paying the earnest money! Did you have any contingency of obtaining financing in the contract?

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earnest money deposits are usually 1 percent to 3 percent of a home’s purchase price, depending For example, your contract might say you have to release your financing contingency as you pay A financing contingency protects you for a specified number of days while you’re obtaining your loan.

The earnest money is pledged, and should the buyer not fulfill his end of the contract, the seller can These are legal loopholes that allow you to not follow through on your contract, should one of those The financing contingency allows a buyer to back out and to keep their earnest money should the.

The earnest money is pledged, and should the buyer not fulfill his end of the contract, the seller can Because the seller gets to keep the earnest money if the buyer backs out without a legitimate The earnest money should not be given directly to the seller (unless it’s something small, like a dollar).

In a resale contract, you get your earnest money deposit back.. If your loan falls through late in the building process the builder may keep the earnest money.. Typical builder contracts do not protect the buyer from incomplete work. I love to represent my clients in negotiations for new home construction.

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