Earnest Money - HELP

**AllenB** · 01-27-2011, 04:08 PM

Our house went into contract recently. The buyer had the inspection, sent us a request to remedy. We agreed to fix everything asked and both parties signed. Two days later, the buyer's lawyer sent us a letter telling us the contract was void due to 3 items we agreed to be fixed in the request to remedy, and wanted their $1000.00 earnest money back.

Correct me if I'm wrong, but by both of us agreeing on the request to remedy, they are saying we'll buy the house if you fix these things. And THEN they back out??? How can they back out AFTER they've agreed to purchase with the items remedied? Seems to me they are not operating in good faith. We're in Ohio btw.

**Greg** · 01-28-2011, 07:27 AM

It all depends on what is in your contract so have your lawyer look it over.

IMHO it sounds like the buyers got cold feet and are using an attorney to bluff their way out of the contract.

**Mold Testing Guy** · 01-31-2011, 06:22 AM

Unfortunately, it looks like you need to have an attorney look at it.

**flash.investing** · 02-14-2011, 08:20 PM

I agree with everyone who has answered you so far, you may want to have an attorney look at the contract as well as the letter. Though using an attorney's letterhead as a bluff is common practice. Sine they went to all the trouble, you may want to consider returning the earnest money and releasing them from the contract. Also, 2 days is not long enough to really fight them on the validity. Especially in Ohio, the 3 day Right of Recission is applied generously to many situations. It is a bad time to expect legal support for forcing a buyer to stick to a contract. The other side of that is even if you were able to hold them to it, there would be more problems before closing. This is probably a case of "better sooner than later".