Houston, TX asked in Real Estate Law for Texas

Q: Can I close (sell) my house with current buyer, if the previous buyer failed financing & refuse to release earnest mone

the contract said to notify in writing 25 days after the contract signed if he can't get the loan, or else the earnest money goes to me.

now he claims that the house is in flood zone and refuse to sign earnest money release, even after I tried to negotiate to go 50% or lower.

Do I have any right in this? I wasted another 2-3 months time and passed by other buyers.

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1 Lawyer Answer

A: The terms of your contract will govern your rights as well as your obligations.

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