Legal Question in Real Estate Law in Maryland
I entered a real estate contract to purchase a home. A yearly assessment on the property was not disclosed in the contract. The seller is willing to cancel the contract, however, am I entitled to a refund for the fees I paid for this transaction (appraisal, inspection)?
Asked on 7/27/12, 12:56 pm
1 Answer from Attorneys
Robert Sher
Wagshal and Sher
For the appraisal fee, you need to check with your lender to see if the fees are refundable in the event the loan doesn't close, since that fee was incurred by your lender and paid to a third party (the appraiser). As for the inspection, I assume you hired and paid the home inspector, unless this was an FHA application, in which case the inspector was likewise paid by the lender.
Answered on 7/27/12, 1:42 pm
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