hello, we recently got into contract for townhome. But we are having second thought and think we should go for single family home. Our offer was non-contigent. Is there any way to get back some if not all of EMD money if we decide to backout. thank you so much for your help. #housing
Nope, expensive lesson but yes never buy a townhome
Why not?
Lmao nope, you can ask for it but seller prob not gna give it to you
If you back out now, it’s equally damaging for the seller too.
Man, they can just go back to the other offerers.
You had no inspection, no appraisal or loan contingency? What kinda agent let you do this?
This is what earnest money is for. To pay for backing out. If the seller is damaged more than the Ernest money (unlikely but possible) they can sue you as well. In most states, the law treats you as the owner for a lot of liabilities once you are in contract. Unless you had contingencies, you basically already bought the house.
True , I got the same advice.. good idea to discuss with attorney..
You can call off the offer void with inn 3 days for no reason. Post 3 days of the contract signed, your agent should help you with options. It's sellers choice. Your reason for emd request is not compelling
Wait. But why? I just created a new post after seeing this. Check out this post! "What’s with the cult of SFH ? (Housing)" https://us.teamblind.com/s/O3aZP60Z Happy to chat..
HOA is just a pain to deal with. It can be nice for sure to pay them to organize the sourroinding
Indeed. They are painful for everyone.
If there was no contingency, there is no legal way to get it back. You can request the seller I guess.