Expert: Dick Dennis - 3/8/2010

Question
We signed the contract on a house and put down our earnest money. After the inspection we found out the roof had to be replaced. Two different roofing contractors came out and said that the repairs would be over $5000. Our contract stated that if the repairs met or exceeded $5000 we had the right to terminate the contract and all earnest monies be given back to us, the buyers. The sellers agent has ignored our calls for the past week after we sent our contract termination papers and she is not wanting to give back our earnest money. Not only is this an issue but online the property shows that it is Under Contract BUT they have gone in and changed the asking price to $5000 less than what they were asking for in the beginning. Considering we are still under contract and they have our earnest money can they do that?

Answer
Very simple, Erin. Just contact the MANAGER of the office of the listing agent and present your case. If that person is able to settle this matter and you still want to end the contract, then contact the local Board of Realtors and present your case. If they cannot satisfy you, then you will have to open up a small claims court action against the listing office.

Where is your selling agent in all this . . . if you have one? That agent and his/her office should help you settle this matter, too. If you have no agent representing your side, then do what I suggested in the first paragraph.

Ignore what is happening online. It is obvious whoever takes care of that information is derelict in his/her duties. Unfortunately this is common. I do wish you well.

Dick Dennis
dixiedee13@aol.com