Edinburg, TX asked in Real Estate Law for Texas

Q: Can we get our escrow money if seller started to negotiate contract after initial closing date?

We got our clear to close on 8/1 which was the last day for our contract. Unfortunately title couldn’t no accommodate us bc of there packed schedule. It was moved to the 8/3. Now the seller is asking for cash money in order for him to go sign at closing. We have signed on our schedule time but if we refuse to give him more money can we loose our Ernest money?

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1 Lawyer Answer

A: It would be hard to give you a solid answer without having your sales agreement in front of me. Unless the seller agreement states that "time is of the essence" the closing dates are not real deadlines. Also, the Ernest money clause probably has some language in it about what will actually trigger your loss of deposit.

If you can get back to me with a copy of the agreement, I can advise you better.

Good Luck!

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