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Can I recover my earnest money when bank countered 14000 dollars higher than my offer on a short sal

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July 18 2012 - Orlando
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Yes, your agent will be able to get your money back to you.
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July 19 2012
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The bank has countered at 11,000 dollars more than my offer. I am not willing to accept. So is opion my earnest money should be refunded?
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July 19 2012
When the bank countered the agreement ended and if you don't accept you should absolutely receive your earnest money back. 
Good luck.
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July 19 2012
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at the bks counteroe i dot want the property. W did the CMA  and it came back 2000 above my offer not 1400 s the bank counterd

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July 19 2012
You should be able to.
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July 18 2012
Your Earnest Deposit is to be set aside for you by your Realtor in a separate account. If you do not accept their counter offer the money is absolutely still yours. Speak to your Realtor for further information, they should be able to clear up and issues or misconceptions.
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July 18 2012
yes, you are not technically in a contract if the bank has not approved the deal. Now is when you have 2 options, back out and send a cancellation notice to the seller or counter the bank back.

Check with your agent to ensure you made a good offer. I have seen many times buyers have made offers on homes based on the list price, when homes never should have been listed at that price to begin with. At the same time I have seen banks come back with unrealistic desires in regards to what price they want for the property. 

If you are working with a good agent, they can help you with this by doing a current CMA (comparative market analysis) There are other factors to consider when making offers besides what the list price is. Unfortunately not all agents are aware of this. 

Are you just looking for a way out of the contract, or do you really want this property?

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July 18 2012
 
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