Just got email that the buyer's termination will be sent over soon. I did ask about being reimbursed for the foundation inspection.....another one of those things that our agent didn't know what she was doing and told us we had to pay and have done (which we did) and turned out it was definitely a buyers expense and we were then told we would be reimbursed for it at closing, which I was fine with. But, I would like to still be reimbursed for it, especially since I should never have had to pay for it to begin with. It was $350 and DH had called 3 places and this was the best price. The others were $400-$450. When we found out (from the inspector himself) that it was a buyer cost, our agent's reply as always "well, I didn't know......". If the situation were reversed I sure wouldn't hesitate to make sure I reimbursed them for it. I'm sure my agent is hating me even more right now for even asking for it
Now we need to figure out what next..........I'm too tired right now to even think straight :/ I'm taking off Friday and Monday, just to try and recoup and get some of my energy back.
So I assume you get whatever money she put down as earnest money. When I bought both my houses in my offer contract it said X amount of days from offer to get funding approved otherwise I lose the money if I backed out of the house. It's not your fault she couldn't get FHA funding.
ReplyDeleteI think the earnest money is hers back, since financing fell through. It's not her fault FHA made this decision. I won't be trying to keep that, but I would like the $350 back we spent on the foundation inspection she was supposed to pay for.
DeleteMy understanding is that if her offer stated that she would have funding by day "X" after offer is accepted, before that day arrives she can cancel offer due to funding and still keep earnest but after that day the earnest money is yours. If she had a Clause like that and it expired the money is yours. She should have done due diligence before that cut off date and if it wasn't going to work, back out of the deal then and not wait as long as she did. But it sounds like she tried everything she could so at the same time I understand you wanting to be nice and letting her keep the money.
DeleteGRRR, This is upsetting.
ReplyDelete