Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago,

User Stats

75
Posts
75
Votes
Scott Lepore
  • Flipper/Rehabber
  • Littleton, CO
75
Votes |
75
Posts

buyer is backing out of contract because they changed their mind

Scott Lepore
  • Flipper/Rehabber
  • Littleton, CO
Posted

My buyer has backed out of contract because she wanted to expand basement (she did not mention this in contract) and it is going to cost more than she thought.  She wanted to demo basement wall, dig out 500 sf of crawl space and put egress where concrete patio it.  Did she think this would be cheap?  The agent marked the inspection box as the reason for backing out but this was not an inspection and inspection had not been done yet.  n my mind and inspection is for finding any current or potential problems with the house.  Given the generous buyers rights when it comes to getting earnest money back I'm wondering if I stand a chance of keeping earnest money.  It just doesn't seem right that she can get it back after I passed on other offers and she never said it was contingent on cost of remodel.  Any input is greatly appreciated.  Thanks in advance!

Loading replies...