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Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 29072
Experience:  30 years of real estate practice experience.
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We were trying to close on a new home in Maryland and were

Customer Question

We were trying to close on a new home in Maryland and were closing a week earlier than the contract date. On the final walkthru, standing water was found in the basement.. The seller called in a contractor and had some repairs done at their expense.
We scheduled our own contractor to inspect the repairs and ensure that the leaky basement problem is resolved. Our contractor was scheduled 3 days before the contract closing date. Unfortunately, our contractor had an unforeseen emergency and had to cancel. The next available date for our contractor is after the contract closing date.
In lieu of our contractor inspecting the repairs, we told the seller that we require a warranty from their contractor for the repairs that were done before we close. We did not get a response from the seller and so we canceled the closing.
Our agent will be sending an Addendum to the seller that will change the closing date. Our agent is saying we could lose our entire earnest money deposit if the seller does not sign the Addendum for the new closing date because we're out of contract. Is this true?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Loren replied 1 year ago.
Thank you for using JustAnswer. I am Loren, a licensed attorney, and I will do whatever I can to answer your question.
Unfortunately, while you are legally entitled to reject the property if it is not in the condition required in the contract, if the seller has successfully repaired the problem then you will be in breach if you do not close.
You may want to see about pulling this back together and bringing in your contractor to confirm the repairs.
I hope this is helpful. If you have any follow up questions feel free to post them. It is never a problem.
Thank you.
Loren
Customer: replied 1 year ago.
The problem is that the seller has not provided any documentary proof of any kind that shows what was repaired and we couldn't get our contractor out before the closing date. So is our earnest money deposit still in jeopardy?
Expert:  Loren replied 1 year ago.
Thank you for following up. You have a legal right to require proof the problem was corrected before closing.
So, while the seller can try to collect the earnest money, you have a valid defense.
Best regards.
Loren
Expert:  Loren replied 1 year ago.
Did you have further questions? Have I answered your question?