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Old 01-06-2008, 07:55 AM
63 posts, read 164,942 times
Reputation: 25


Originally Posted by JoeandFamily View Post
Yes I am sure....And I just got off the phone with him..He was no help. He directed me to speak to my real estate attorney.
With all due respect, that sounds like one of the no-help answers we were getting from our RE agent.

There are a lot of bad, unqualified and unmotivated RE agents out there--if the transaction is more complicated than pointing to the house and having you say "yes", some agents are then out of their depth. It may be that there is nothing you can do, or it may be that the agent isn't interested in putting forth the work to assist you.

I would certainly review the contract with a magnifying glass before spending the money for a consultation with an attorney. Have some other eyes, even if it is just other family members, review the contract to see if they spot something. Often, once we have read something more than a few times, we no longer cognate additional information, even if it is there in plain sight.

Failing that, bite the bullet and consult the attorney. If there is a clause in the contract which does support you, though, I would rethink using that agent/office for any subsequent purchase.
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Old 01-06-2008, 09:38 AM
Location: NJ for now
1,225 posts, read 2,575,356 times
Reputation: 700
Originally Posted by bibit612 View Post
They might have a clause that says you can your money back if you can prove that you can't get qualified elsewhere. If you got approved on their financing, then that may be the reason why you can't get your deposit back. I think they do this so that people who have second thoughts about the property after making an offer can't just back out without a good reason and then they get stuck with an inventory home.

I suggest that if this were the case, go and try to obtain a mortgage somewhere else if you don't like the builder's lender's terms.

Good luck.
At this point, I cannot get a mortgage...Fell through with few points short to obtain a mortgage...This was with the BUILDERS Mortgage company that said I am not qualified...I will look at the contract today and see
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