The first step you should take is to review your contract. Many real estate contracts include financing contingencies, which state that if the buyer cannot secure financing, they can back out of the contract and have their earnest money refunded. If there is such a clause in your contract and you followed the requirements outlined within (for example, applying for financing within a specified timeframe), then the builder may be legally obligated to return your earnest money.

If your contract did not have a financial contingency clause, or you did not meet the applicable timetable, then it can be difficult to force the builder to return your earnest money. If this is the situation you face, it still may be possible, but our attorneys would need to speak with you to learn about your specific facts and advise you accordingly.

If you would like to speak to a real estate attorney at the firm please call us at (303) 688-0944 to start a free case assessment.