Call a lawyer asap! Sounds unethical to me.

I agree, but the way the OP said it was that the agent made a definitive statement that they could not get a refund. That is not correct because the agent cannot decide on the refund. It sounds like the agent may have been bullying the OP into going through with a sale that they didn't want. I'm not an expert on elder abuse, but it could be considered a crime, especially since the agent knows that the OP does not have their own agent to explain their options.

Sorry to tell you but your agent was trying to help when you receive the results of the inspection report you have X number of days to sign. If you don't you have bought a house{ any where from 14 to max 30 days }

She said the agent had showed them another property they would be interested in, if they could get out of this one. Seems the agent and broker would both still make a commision, so why play hardball with this sale?

You should do a walk through at time of closing and take pictures. If items were taken out of the home report it to the title company. House will not close until items are returned.

Ask for a receipt for the repairs. When you move in, If you have further issues you can call the company who did the repairs. Also demand the home inspector return to the home before you close. Your contract stipulates a clear home inspection. You do not have to close until this occurs. Your money is sitting in escrow. The seller cannot get the funds until EVERYTHING in the contract has been completed. Play hard ball back!

Is this a VLS contract? If so, as I stated earlier, the seller has to fix the problem up to 1.5% of the purchase price. No, you won't get your earnest money back if you back out. The VLS contract is written in a way that you can't.

I think that is THE point, "don't worry about a thing, just sign here"

Yeah this whole thing is weird. Wish the op would provide more details.

Not a good forum for a LEGAL ?. Other people may have had other situations, but you are dealing with a contract and the fine print will determine what you can do or not do.

Who determines how much the repair costs? 1.5 percent of $250K is only $3,750. You can't do much water damage repair for that amount, and almost no mold mitigation. Note that they have asked for 10 more days to complete the repair. Also, I doubt that the contract, as written, is always enforced. The Villages, and most reputable brokers, tend to be pretty lenient when returning a deposit, especially when the buyer has a valid reason to not buy the house. Brokers do not want dissatisfied buyers. It appears that the only justification for keeping the deposit would be to pressure the buyers and to ensure that the sales agent gets a commission. The seller can always sell the house to another buyer and would most likely not be financially harmed.

Number 1
 

The OP is the number one concern.

Realistically, if the money was never returned (Big If), then the buyer would suffer the sunk cost. The upside is they wouldn’t live in constant doubt about a good purchase.

If the OP decided to ride on the railroad of the purchase, they could nit pick the repair until it was as perfect as they demanded. Thus only their time was the sunk cost.

Here is the latest. No I haven't signed the extension I believe they have till Friday to repair. The contract is difficult for me to understand and my husband had a stroke so he can't help the realtor who sold us home showed us one other in Area which I liked (Realty Executives) however told me seller won't budge on price. That same day , few doors down, this one came on market, same exact model, but $40,000 less. Realtor told me good price and it will go fast. I believed her and since my husband has major surgery coming up and I wanted to get him settled I guess I acted too fast and now regret it because of water damage found and windows need replacement. I'm so stressed. She just keeps asking me to sign extension. I told her no. I don't want this one, will wait till YOUR LISTING GOES DOWN and she said I can't get out of this!! Can't handle this stress. Hubby already had stroke

No I don't believe inspector took photo of damage but he couldn't figure it out. Of course RE agent was there and tried to tell him it's probably neighbors sprinkler system? Making light of it

I hope it works out. Personally, I would make a written request for a refund of the deposit to the broker and the escrow company. You may be able to get a lawyer to make a call and/or to send a letter for a few hundred dollars. I think you are being wrongfully pressured. It is not typical for a broker to try to seize a deposit under these circumstances.

A reputable home inspector always takes photos, especially if they have found an issue which needs to be resolved in their opinion. In addition to the water damage in a closet, you also mentioned windows need replacing. Did the home inspector state that on their report as well? As a few others have posted, there is always a clause stating the amount of necessary repair and it’s usually in the $1,500.00 range. I would also tell the agent or broker that you will be contacting an attorney to review the contract. You dont have to retain an attorney yet, however you should get some response from the realty firm when you say that.

So sorry for your stress and husbands illness, he’s in my prayers.

You must contact a good RE attorney tomorrow - the peace of mind having one explain the situation will be worth a one-time charge. Then if needed you can use them for further work.

I agree. I think that one certified letter to the broker would get your deposit money back.

If you were all ready to go to closing and were arranging for insurance to be in place, your insurance agent should have access to any previous claims of water damage.

I know this from personal experience and from a long standing relationship with our insurance guy who told us about a two years previous water damage claim on a northern house we were buying. Everything turned out to be fine, but we had our real estate agent get all the records of the claim from the seller before we would proceed.

Things like this can vary from state to state it seems. This was not our Florida house.

As the market tightens, perhaps buyers can include more specifics on deal killers in a contract to purchase.

Florida is different though. I am curious as to if this is a Villages agent or the MLS. ( I have read most of this thread but not the last few responses yet, so forgive me if that info has been posted.)

Boomer

Only if you are still within your inspection period. If you are past that, you are done. That’s why it’s important to read your contract and know your dates.

Apparently, the original inspector didn't take any photos, which I think is absurd. If he had, Frank could at least view the photos.

I would add, cc: the escrow / title company on your demand letter to the agent. Keep copies. If you're really motivated, send the demand and the cc:'s with a return receipt from the USPS.

This is all very confusing. It sounds as if this agent is your buyer's agent and not the listing agent. If that is the case, she should be sending the selling agent a request for release and return of deposits due to results of the home inspection.

Not only that, if she is your buyer's agent, she is obligated to send your offer on a home, regardless if she thinks the seller won't budge on price. The seller's agent is obligated to present all offers to the seller.

What exactly does your contract state regarding the home inspection? Copy and paste it here so we can understand what this extension request is all about.

It seems that you are being taken advantage obviously because of your age and your husband's medical condition.
The Seniors Vs Crime Project has local phone numbers and has volunteers that can tell you if you the victim of a crime for FREE.
Call 352-775-3186 in Sumter county for FREE help. They are have volunteers there Tues-Thur 10A - 1P there are other offices on the seniorsvscrime.com site. They are a real help for FREE. I expect a note to the real estate agent telling him you have contacted them for help will move things along. They are a group of old people that'll chat with you and may help resolve your problem for FREE.

Unless the buyer is paying for a buyer's agent in a contract, the agent does not represent them in the legal sense. Most buyers do not not have an agent.

Go directly to the Broker ASAP. Tell him you want the money back. Tell him you'll go to the Seniors Crime Group as mentioned in this post, if he doesn't cooperate. You may need their help.

Both Agents Work for Seller in Florida!
 

This was news to me, but in Florida the state statutes define both agents as working for getting the sale to completion. That means the seller wants to sell, and so do BOTH agents.

As per contract says RE AGENT. I cannot get my money back. Have to give them time to remedy situation

The carpet was soaked so water coming up from underneath

Expensive
 

That one could be an expensive fix. It won’t be repaired by Friday.
Costs could include cutting and removal of concrete, plumbing repair and the refill with reinforcement rebar and concrete. Somewhere in there will be the 2 day cure of the cement. Then the padding and new carpet can be installed.

Okay, so regardless of who the realtor is representing, if the contract says you have to give them time to remedy the situation then you have to give them time. If that time is 10 days per the contract and you don't let them extend that, and they can't fix it in 10 days, at that point request your deposit back and release from the contract.

Real estate agent just called to tell me it was a broken sprinkler system? Is that possible water would shoot up into our villa closet from neighbors sprinkler system?? It's a stucco villa

In courtyard villas, the nextdoor neighbor has several sprinklers located under the eave of their neighbor's house. If one of these sprinkler heads breaks, it can shoot a geyser of water that hits the roof eave and water gets into the attic and trickles down into the house. This can also happen if any sprinkler head sprays water at the roof eave. I don't know if this is the same situation. I cannot think of another situation where sprinkler water would get into a house, except maybe if it is spraying water at a window. Sprinkler pipes are not located under the house.

If so
 

If so, the roof and attic space under the geyser could be water damaged where the soffit is connected. I definitely would be looking at mold damage.

So much for "Code of ethics"with mls. Contact a lawyer ASAP

I agree. It seems to me that the real estate company should return the earnest money and remove the house from the market for a month or so while they completely alleviate the water issue. The purpose of earnest money is for the buyer to demonstrate that they are serious buyers, not for the real estate company to hold the buyer hostage and to force an unwanted sale. In my opinion, the real estate company is not acting appropriately by refusing to cancel the contract and to return the money. I would expect this behavior from a car dealer, not a licensed real estate company who is bound by ethics under state law. A simple demand letter from an attorney would end this fiasco immediately.

Real Estate rip Off
 

I would be onto a lawyer ASAP. Not all real estate agents, but many, are in it for the money. The house was likely difficult to dump on anyone. Now that they have you on the line, they will be hesitant to let go. It may be some time before they hook another.

The seller decides if they will issue a refund based on the contract, not the real estate agent. The agent should be presenting a release to the seller to sign and release the funds. If the seller says they won’t sign, the agent can’t do much.

If this was an irrigation line leaking underground it could cause this problem and be an easy fix. Of course, carpet and even compromised concrete could need replacing.

Not exactly. First of all, the escrow company determines if the buyer has breached the contract, which is the only time the earnest money can be forfeited. Second, the broker legally represents the seller via the listing contract. In many listing contracts, the broker is entitled to half of any forfeited earnest money. In some states (not in Florida), you actually need a court order to have earnest money forfeited. The reason earnest money would ever be forfeited would be to cover any losses the seller incurs. So, even if the money is forfeited, the buyer can seek a refund unless the seller can prove that they lost money, such as actually selling the house for a lower price.

But, as a practicable matter, I believe that, if an attorney demanded that the earnest money be returned, I doubt that the broker or the escrow company would challenge it.

Exactly correct. And, the agent has already tacitly admitted that the repair will take more than 10 days by asking the buyer to extend the repair time. Unless the buyer really wants the house, under no circumstances should they sign an extension.