Profile picture for tbrand1

How can I get the rest of my earnest money back?

I contracted on a new home with Richmond American (contingent). I was led to believe that if I gave my best effort to sell my home the most I would risk is about $500.00. Well I didn't sell after 90 days and Richmond is keeping $1,500.00. they never started the house, but are keeping to the letter of the contract. This would of been my 4th Richmond home and I was probably too trusting. How should I persue this?
  • September 09 2011 - US
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Answers (4)

Profile picture for tbrand1
I am working up their chain. If Richmond does not reconsider,I will just purchase my next home from their competition as I did on my current home (from Ryland) because the customer service was superior. My stupididty to work with Richmond again anyhow---but they happened to have the best location.
  • September 10 2011
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Profile picture for Sharon Lewis
Sorry to hear that. Did you not have a buyers agent?
I would reread your contract, see what it says.
You can also contact the companies head office and see if they will waive it. And as the others suggested, talk to an attorney.'
  • September 10 2011
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Not sure where you live, but in Ct, it sounds like you were under binder, not contract.  In either case you should have had a 'Hubbard Clause' that stated that you would procede with the purchase if and when your house sold.  I would contact an attorney and see what your options are.  You most likely would have avoided this issue if you had worked with a realtor.
I wish you the best.

  • September 09 2011
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Profile picture for wetdawgs
What was in the contract?   "led to believe" suggests there was some verbal discussion outside the written contract.  (the written contract will win)

Please review your contract with an attorney.
  • September 09 2011
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