Legal Question in Wills and Trusts in Georgia
My husband and Iput a contract on a home April 30th with a closing date of June 30th, however, we had to signed and extension until July 30th. During this time my husband was qualified for an FHA loan but I was not. So we dont qualify for the contracted purchased price. This is in Georgia. Can we get our earnest money back?
2 Answers from Attorneys
The answer is in your contract, which you have read and we haven't. Thus, no one here will be able to answer you.
This is a real estate question, not a probate question. I have to agree with Attorney Ashman. Read the contract. I don't know why you both have to qualify - can you still get the FHA loan if just your husband qualifies? If your offer to purchase was conditioned on you and your husband obtaining FHA financing, then yes, you generally can get your money back because you cannot get the loan. If your offer was not made conditional on the occurrence of any contingency, then the seller may keep your earnest money.
If you are not sure, then have your documents reviewed by an attorney. I will be happy to review your documents for a resonable fee, but you would have to send them to me. Otherwise, you might have to find counsel in Georgia.
Rachel Hunter
Attorney at Law
(678)-687-9693
Admitted in GA, PA & NC
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