Legal Question in Real Estate Law in Texas

Contract Termination - Earnest/Options Money

I am having a house built with a contract that contains a contingency that our existing home sells. We have given the home builder $5000 earnest money and $6000 for half of the options of which only 1 has been installed. Our existing home has not sold yet. I am having various disputes with the home builder and am considering terminating the sales contract based on the contengency. I would like to recoup all earnest money and a majority of the options money since most of the options have yet to be installed. The home builder claims they are entitled to all option and earnest money. What options should I pursue to reclaim some of this money? The sales contract contains an arbitration clause. Thank you.


Asked on 12/09/03, 6:04 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Contract Termination - Earnest/Options Money

I would really need to read your contract to assess your options. If you would fax a copy to me, I will be glad to provide a complimentary phone consultation so you can evaluate which options are open. Fax 214-265-1209.

Read more
Answered on 12/09/03, 6:17 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Texas