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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55453
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I have a contract on a house and put down a $5,000 earnest

Customer Question

I have a contract on a house and put down a $5,000 earnest money deposit. The contract was contingent on a home inspection. The seller is willing to do about half of the repairs that I asked for them to do. If I back out now, would I be able to get my earnest money deposit back?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.

Good morning. My name is ***** ***** I look forward to helping you.

Yes, you absolutely have the right to terminate. The entire purpose of an inspection contingency is to examine the condition of the property and then present the issues to the seller. If the seller refuses to remediate the issues and/or you are not willing to waive them, then you have the right to terminate the contract with no recourse to you; i.e., you are entitled to a full refund of your deposit.

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