AW said:^agreed
I think technically the earnest money means it's so that they don't have to spend their time and effort to sell/build the home when you accept it and keep it if you flake.
As long as there's another buyer, they wouldn't care as much.
AW said:You can ask them, quick move in means that you didn't do any major upgrades like structurally/convert California room, a den instead of bedroom etc, I would think they'd be fine?
Did you sign anything. Any fine print about backing out
In your OP you mentioned that the seller accepted your offer. Hopefully the RE agents on this forum can chime in but I don't think you can withdraw an offer once its been accepted.joy4ever said:AW said:You can ask them, quick move in means that you didn't do any major upgrades like structurally/convert California room, a den instead of bedroom etc, I would think they'd be fine?
Did you sign anything. Any fine print about backing out
The only thing we signed was "Offer to Purchase". There's no mentioning of backing out. The only term stated on the form is like this:
"The terms of this Offer shall be subject to provisions and definitions contained in the Joint Purchase Agreement and Escrow Instructions ("Agreement") upon completion and execution of the Agreement by Seller and Prospective Buyer, whereupon this Offer shall be of no further force or effect. Neither delivery of this Offer to Seller no subsequent negotiations between Prospective Buyer and any agent of Seller shall obligate Seller to sell the property to Prospective Buyer. Seller shall only be so obligated to Prospective Buyer upon completion and execution of an Agreement by Prospective Buyer and Seller."
joy4ever said:Just wondering. If someone made an offer with a deposit and the seller (builder) accepted it, is he/she able to get the deposit back if he/she changed his/her mind and hasn't signed the purchase agreement yet?
I believe Toll Brothers is known to be very aggressive in terms of not giving back deposits. IIRC, their were a few lawsuits during the recession.Irvine Fanatic said:joy4ever said:Just wondering. If someone made an offer with a deposit and the seller (builder) accepted it, is he/she able to get the deposit back if he/she changed his/her mind and hasn't signed the purchase agreement yet?
I only know of one incident where they did not return the deposit. This happened in Texas from a national builder. Hope you'll have a better outcome.
joy4ever said:Just wondering. If someone made an offer with a deposit and the seller (builder) accepted it, is he/she able to get the deposit back if he/she changed his/her mind and hasn't signed the purchase agreement yet?
eyephone said:joy4ever said:Just wondering. If someone made an offer with a deposit and the seller (builder) accepted it, is he/she able to get the deposit back if he/she changed his/her mind and hasn't signed the purchase agreement yet?
So what made you change your mind?
joy4ever said:eyephone said:joy4ever said:Just wondering. If someone made an offer with a deposit and the seller (builder) accepted it, is he/she able to get the deposit back if he/she changed his/her mind and hasn't signed the purchase agreement yet?
So what made you change your mind?
We weren't planning on making an offer when we went. I just asked the agent if they would consider a certain price and she said she could submit an offer and find out. We made an offer with a different builder before and they never asked for a deposit (They countered but we didn't accept). So I thought there was no harm making an offer with this builder. When they asked for a deposit, I wasn't thinking straight so it just happened. We do like the house but don't think we can afford it without significantly sacrificing our current lifestyle. Besides, the included upgrades are acceptable but not ideal (They look nice but not practical for us).