Are you a Real Estate Attorney in California? All of the Realtors involved say, "You submit the removal of contingencies and check the boxes saying "I do not remove [x] appraisal or [x] loan contingencies," and then submit that to the seller. The seller may issue a "demand to perform" with the removal of contingencies, and if they say that they don't want to lower the price, then we cancel. But as of today, the seller's agent HAS received the removal of contingencies (as noted) but the seller still has not responded on whether they are willing to negotiate on the price.
If we cancel today, pretty much we end the deal.
Thank you. So, back to my original question. If I submit this CR form and refuse to remove the loan or appraisal contingencies, can I still cancel the contract in a few days if the seller refuses to agree to a new lower price (or whatever, we don't agree) and I want to invoke the appraisal contingency to cancel the contract. Am I liable and can I lose my earnest money because I did not A) remove the appraisal contingency or B) cancel the contract?
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).