Buying or Selling a Home/Earnest Deposit

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Expert: - 1/24/2010


Question
I am a 1st time home buyer and put down a deposit out of my own pocket and signed some papers.  After much thought I cannot afford this house because the person I was going to share the mortgage with backed out and the realtor sweet talked be the whole way until I found out that realtor's are not necessarily interested in what happens to you after the sale.  Can I get my money back?  The paperwork says I have 7 days to do an inspection and change my mind based on the inspection results.  Can I get my money back without having an inspection done since I am still within the 7 day window?

Answer
Hey, Jack.

I can't answer your question because I don't know what state you're in and I don't know what your purchase contract says.

If you'd like to call me at 619-341-0173 I should be able to help you better, or you can email me at russelraypc@aol.com and let me know when a good time would be to call you and we'll talk on my dime.

Russel

Buying or Selling a Home

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Russel Ray

Expertise

Through home inspections, I provide an education about real estate. I'm one of those rare home inspectors who has been involved in real estate in many different capacities: as a Realtor (in Texas), as a property investor/flipper, as a teacher, and as a marketing expert (for Realtors and home inspectors). I believe that my experience as a Realtor and property investor provides me with a different viewpoint about home inspections in that I work for my Clients, but when there are other people involved in helping my Clients, then I firmly believe in helping them, too. That includes Realtors (both the seller's and the buyer's), repair professionals (e.g., plumbers, electricians, etc.). If I can get all the players (seller, seller's Realtor, buyer, buyer's Realtor, and repair professionals) playing in the same sandbox together to accomplish goals as a TEAM (Together Everyone Accomplishes More), then I believe I have succeeded in my job as a home inspector. My profession is, in my opinion, much more than simply documenting the condition of a property and then take the money and run. I am also a rare breed in that I don't believe that one inspection fits the needs of all Clients, and I have led the industry in understanding that fact. For example, the goals of a property investor are far different than the goals of someone buying a property to live in. The goals of a seller (a pre-listing inspection) are far different than the goals of a buyer (a pre-purchase inspection). To that end, I offer 14 different types of inspections, e.g., STANDARD, LIST, RENTER, BASIC, MAINTENANCE, SPOT, and more. I believe in giving the benefit of the doubt to all professionals in whatever industry they represent until they prove me wrong.

Experience

Over 42 years in all aspects of real estate--building homes, renovating homes, inspecting homes, Realtor.

Organizations
National Association of Certified Home Inspector, Better Business Bureau of San Diego

Education/Credentials
Graduate of Texas A&M University; College Station, Texas

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