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holding earnest money on a repair contigency

 

holding earnest money on a repair contigency

This is a discussion on holding earnest money on a repair contigency within the Other Real Estate Law Matters forum, part of the Real Estate & Property Law category; we had a $2000 R.O.C. on our home. we had it inspected they were not over $2000 per our estimate ...

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Old Aug 29th, 2008, 11:44 AM   #1
Default holding earnest money on a repair contigency
we had a $2000 R.O.C. on our home. we had it inspected they were not over $2000 per our estimate but was over $2000 on his. At issue is moisture under the home the permissible is 19% to code ours is 17% as per the home inspector the buyer chose. There was a "small" amount of water penetrating the foundation on the rear which we estimated at $1446.00 from a reputable company with many years exp. his including tearing 4' of deck off is $2870. ours said he can do it without the removal of the deck. We will pay for this repair yet he terminated the contract. can we keep his earnest money?
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