Posts Tagged ‘earnest money’
Builders Of New Homes Require Mediation And Arbitration Of Disputes With Home Buyer
Question: We signed the builder’s purchase contract to buy a new home in San Tan Valley. The builder’s sales agent made numerous false statements, especially in regard to the upgrades that were available in the home. The “bottom line” is that we canceled the purchase contract and demanded our $20,000 earnest money back. The builder…
Read MoreRecourse For Spouse’s Misuse Of Community Funds
Question: After seventeen years my husband and I have been having serious marital problems. When I was back in Minnesota visiting my parents recently, my husband signed a contract to purchase a condominium in Mesa in his name only. The $10,000 earnest money was “hard” or nonrefundable after the 10-day inspection period. My husband couldn’t…
Read MoreNo Right of Rescission for Improved Lot
Question: We recently signed a contract to purchase a home to be built within a year on a lot in a beautiful community in north Mesa. Although we love our lot, the day after we signed the purchase contract, we realized that, because both of us work in downtown Phoenix, the daily commute would be…
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