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 about 5 years ago,

User Stats

18
Posts
7
Votes
Vish Rav
7
Votes |
18
Posts

Seller not approving to disburse earnest money

Vish Rav
Posted

Hi BP,

Wanted to get some feedback on this forum. I was in active negotiation with a Seller for a duplex property in Portland, OR. The Seller misrepresented the operating expenses for the duplex during the course of the transaction. After the due diligence period was done, they presented us with new documents contradicting the initial documents for the operating expenses. Basically, the Seller was paying all utilities on the rental property and was claiming that the agreement was for the tenant to pay these expenses. Since I was going to keep the tenant stay on after the transaction, I didn't want to close on a transaction yielding negative cash flow. Hence, I went ahead and terminated the transaction (after trying to negotiate the price down). Now I would like for the Seller to disburse the Earnest monies and also pay me back for my home inspection and appraisal fee. If all of this information was disclosed up front, I wouldn't have offered a selling price above the asking price. 

Earnest money is with escrow and currently in dispute. 

Should I take this to small claims or are there other options? 

Thanks!

Loading replies...