Legal Question in Real Estate Law in Texas

The buyers realtor doesn't want to return my earnest money for a property I couldn't get a loan for. He says he would sue me for three times as much. I had a signed contract in October 2009, extentions were given each month due to getting a loan accepted. My loan was denied on May 2010 due to unable to verify employment. There was a clause in the contract that said the contract is subject to the buyer being approved and a thrid party addendum. I have a copy of the addendum and want to verify that the way the addendum reads if I'm entitled to my earnest money ?

I signed a realease for the earnest money in error. Buyers realtor waiting to hear from my realtor on how I want to proceed.


Asked on 6/09/10, 2:43 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Bad Realtor! First of all he is not allowed to 3x damages because YOU are the consumer, not him. On the refund of earnest money, you might have been entitled had you not signed a release. I am afraid a judge might not be sympathetic because of what you signed. However, to answer your question, an attorney would need to look at the documents and advise you accordingly. Many in your area may offer a free initial consultation.

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Answered on 6/10/10, 5:36 am


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