Posts Tagged ‘earnest money’
Resolving Earnest Money Disputes
Question: We signed the standard Arizona Association of Realtors purchase contract (“AAR Purchase Contract”) to buy a home in Glendale. We deposited $12,000 earnest money. The seller, however, didn’t disclose that there was a “pickleball” home next door with loud pickleball tournaments on weekends. Our broker, who is a family friend, told us of this…
Read MoreBuilders 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…
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