Legal Question in Real Estate Law in Nevada
Builder non-refund of deposit
On March 2002, I signed papers on a single family home in Palm Hills, a Rhodes Homes community in Henderson, NV. A deposit of $8412.00 ($5000.00 to Commerce Title, and $3412.00 for upgrade additions). The following month, April, I lost my job. Since I have great credit, the lender stated that I still qualified for financing despite what I deemed as usurious rates based on today's standards. They refuse to return my deposit including the title fee. I have since relocated to Seattle but still am looking for employment. Upon speaking with the sales manager for Palm Hills (Bruce Martin), he stated that Rhodes Homes does not care if I go to foreclosure immediately after closing and refuses to give me any amount back on the transaction.
Do I have any recourse on any of the monies? Any advice you can afford will be greatly appreciated.
1 Answer from Attorneys
Re: Builder non-refund of deposit
You have presented no facts warranting rescission of the contract, unless it read that the parties could rescind in the event of your future unemployment. You may want to list the property for sale with a good Realtor to mitigate your losses.
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