Expert: Lori Frankfort - 7/25/2008

Question
In march I signed a CA based on a CMA and $5000 with Pulte Homes;If I sell my condo in S FL i'll buy a home(closing in sept)from them..They didn't make any comment in march about the CMA,the condo was listed 10% under the listings in my neibghorhood ,in may I reduced with $5000,in july another $5000 but the prices kept falling (short-sale,foreclosures etc) and in 5 months I had three visitors only.Now i totally respected the aggrement I signed in March but Pulte says that "the price is maybe to high,this...that...we can put you in a smaller home,we can pay your mortgage 6 months for you if you close with us..."I'd love to move there but with this market I don't see any buyers around.For them is nothing but for me is something ,so you think I'll get my $5000 back like they promise back in march?

Answer
You should have hired a Realtor to represent you... the builders use their own contract that is not the same as the standard Ca. Buyer's Agreement, and therefore you will need to find a Realtor you can hire to read over your contract and advise you on what to do next.

If you want to try first calling the escrow company, they might be able to advise you as to whether or not you're in a position to get your $5000 back.

Best,
Lori