Los Angeles, CA asked in Real Estate Law for Idaho

Q: I had a contingency contract to buy a house in Idaho. I put down $5,000 earnest money.

I did sign off the final inspection, even though my agent ( who was a dual agent) didn't tell me that the $ would be considered non refundable. The sale of my home was my money/financing for the new home. The buyers of my house backed out a day before closing.

So, my financing fell through.

Since the original contract was based on a contingency that fell through to no fault of me, I feel my earnest money should be returned.

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1 Lawyer Answer
Kevin M Rogers
Kevin M Rogers
  • Boise, ID
  • Licensed in Idaho

A: What you need to do is look at each, signed contract. You need to examine what the contingency or contingencies were and the time and dates that the contingencies must be met or dropped or failed etc. That's what a lawyer will do for you. It is a complicated set of facts to figure out without looking carefully at the contingencies and all the various contracts that can be signed in a real estate transaction.

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