Earnest money

[Bryan Sinegal]

Hello,

Any advice on what happens in this scenario:

Seller agreed to 10-day due diligence, refused to give us access for 5 days.

We did not receive access until we sent notice that they were defaulting on agreement and that due diligence would be extended until access granted and that we did not intend to back out.

Finally received access to property on Day 5.  Completed inspection, rushed to get contractor quotes, etc. on Days 5-9 and requested extension. Declined.  Requested extension again on Day 10.  Declined on Day 11. Requested repairs and/or price reduction due to inspection results on Day 10.  Declined on Day 11. 

It is Day 11.  Since they did not respond to our requests/addendums on Day 10 and now have declined, are we entitled to back out and get earnest money back even though it is Day 11?  

They have expressed that they don't intend to sign off on release of earnest money.  We don't believe property will appraise for sale price.  Should we go through appraisal process and hope to receive earnest money back once appraisal comes back or cut our losses now and seek other options to get earnest money back through the courts?