Legal Question in Real Estate Law in Nevada

Earnest money deposit

I offered to purchase a home based on obtaining a 30-year loan fixed at 7.5% - that loan was not available so I requested a cancellation of the escrow and a return of my EMD; the seller is refusing to agree to a release of my EMD on the grounds that A loan was available, therefore I should have gone forward for the purchase - they claim that the 7.5% specified in the offer is not binding since the market changes daily/hourly - are they correct?


Asked on 4/09/07, 5:43 pm

1 Answer from Attorneys
mark albright albright stoddard warnick & albright

Re: Earnest money deposit

The answer to your question depends upon the language found in your purchase agreement. We are happy to review that and then let you know. Please call our office in Las Vegas.

Thanks

Spencer Judd

Albright Stoddard Warnick and Albright

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Answered on 4/09/07, 6:43 pm


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