Fee's when you are considering make a purchase

[Kenneth Kussman]

I am looking to purchase my first investment property. I found a house I want to make an offer on.

In California, you can put a contingency in the offer. You can put in the offer I will purchase for $xxx dollars contingent on no structure damage. If your offer is accepted and then upon house inspection, you find a problem with the structure you can walk away.

The broker I am working with says in Texas you give the seller a small deposit, no contingency's in the offer. If you find problems with the foundation, you can walk away from the purchase, but the seller keeps the money.

Is that the way it works in Texas? I would think you would get your money back.