Legal Question in Real Estate Law in Ohio

Return of Earnest Money after terms of contract not met

I recently entered into a contract with an investor for a duplex. When I went to take a look at the property one of the tenants refused me entrance. The seller's agent stated to my real estate agent that the tenant was vacating the property in 10 days. It actually took 3 1/2 weeks. The contract was written contingent upon me seeing the apartment and being satisfied with the condition of the apartment. I was not satisfied with the condition of the apartment. Kitchen floor was damaged, the walls were dirty, broken windows, broken stove and damaged kitchen floor. The seller stated that the stove would be replaced and the kitchen floor would be repaired. The contract does not mention anything about waiting for seller to make repairs. I requested to be released from the contract due to not being satisfied with the condition which included more minor defects then the seller stated he would repair. The seller refused to sign the release and therefore I can not get my earnest money back. My question is: If the contract is contigent upon me being satisfied with the condition of the apartment after being able to see it, Do I have to wait for the seller to repair the defects or can I immediately terminate the contract?


Asked on 11/09/04, 1:48 pm

1 Answer from Attorneys
Michael O'Reilly O'Reilly Law Office

Re: Return of Earnest Money after terms of contract not met

If all the contract says is that you must be satisfied with the condition of the property or you can cancel and get the deposit back, you don't have to wait and see if the seller repairs. But some contracts do give the seller a chance to respond and repair. So you need to look at the entire contract. Also, the contract may have required written notice of your dissatisfaction with the property, or that the notice be given by a certain date, in order for you to be entitled to your money back. So the ultimate answer to your questions depends to a great extent on what is in the document.

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Answered on 11/09/04, 3:24 pm


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