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Updated over 5 years ago,
Earnest Money Dispute
Newbie looking for any helpful insights.
Went under contract for a townhouse in Jacksonville, FL. The contract was clearly stated to be contingent on my ability to get financing.
After we paid for the inspection, we requested an electrical issue with the breaker be repaired, along with a handful of other small issues. He countered with fixing half the issues and we agreed. Total repairs came to $690.
As a self-employed individual moving across the country I was unable to get financing. Now the seller won't release the $1000 in earnest money because he wants me to pay for the repairs even though I'm not buying the property. The earnest money is only $1000, but that's still a lot to me considering I need to save for a bigger down payment in order to qualify for my first property.
Everyone I've talked to says I am obviously correct in not paying for the repairs since that was part of our contract and the contract was contingent on me getting financing. But what steps can I take to get the seller to release the earnest money?
Thanks for any insights.