CA Real Estate
California Real Estate Law Questions? Get Answers Online Now.
Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.
Are you the seller or buyer and is there earnest money on file/both parties signed here??
Has seller accepted it and signed off?
Item 21 on the contract talks about you buyer breaching here.So you would loose the $3k as earnest money if you cancel.But that would be it.You woudl cancel in writing here with letter to realtor that you changed m ind and want to cancel the contract.Seller claims the earnest money under item 21 as liquidated damages.
There is a mediation clause below that if there is dispute about earnest money here.You could argue seller breach f they haven't done something here.
Let me know if you have more follow up.Thanks again.
If you can positive rate when we are done it is sincerely appreciated.
No unless seller agrees to refund it here.There is a valid contract once everybody signs.If you back out they get earnest money as liquidated damages here.Now if you say cannot get loan funding that would not be a beach.So you could apply here and try to get them to deny funding the loan.Thats not considered your fault if you tried and failed here.
Not unless you had it added to the contract and I did not see one.Sorry.