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Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 33505
Experience:  30 years of real estate practice experience.
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I am in escrow starting 6/14/16 of a single family home. Our

Customer Question

I am in escrow starting 6/14/16 for purchase of a single family home. Our contingency period for inspection was 12 days. There is no loan contingency. I signed off on disclosures that stated that there was a previous issue with the homeowner building a fence on the neighbor's property. I requested credit for the repairs of the home and legal documentation that the issue with the neighbor was resolved. The other realtor keeps putting us off saying that she has been unable to meet with her client and that she is planning on sitting down with the seller tomorrow. This is past our contingency period but my realtor keeps reassuring me that our deposit is NOT at jeopardy because the seller has NOT responded to our written requests for repairs/credit and that our deposit is safe as long as the seller does not send us an order or motion for us to perform?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Loren replied 1 year ago.
Your realtor is wrong. If you go past the contingency period, and the contract does not state otherwise, your earnest money goes hard, unless you have been granted an extension.
Expert:  Loren replied 1 year ago.
You need to send a demand for an extension immediately and say id the extension is not acceptable you are cancelling th contract pursuant to the inspection contingency.
Expert:  Loren replied 1 year ago.
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