Earnest Money Refund (foreclosed, lawyer, homes)

[Rip808]

Earnest money is usually non refundable. One way around this is to not put your home on the market, have the lender try to qualify you to as if you were buying the home and paying the mortgage on your current one. The goal being that you do NOT get qualified by the bank and then you can get your earnest money back. It's going to be an uphill battle for sure.

[Mr. Krinkle]

I don't want to sound like an ass, but what do you think the term "earnest money" means?

[astrohip]

Originally Posted by Hangster

It is a non-standard word, yes, but, "irregardless" of that, it is a word..

No, it is NOT a word. There is no world in which irregardless is a word. It may be commonly used as an incorrect form of regardless, but that doesn't make it a word. Check out the very first word on this link of "17 made up words: http://www.buzzfeed.com/adamellis/17...age#.lvnL3dqJB

Nonetheless, I could care less.

[mikeyyc]

Originally Posted by astrohip

No, it is NOT a word. There is no world in which irregardless is a word. It may be commonly used as an incorrect form of regardless, but that doesn't make it a word. Check out the very first word on this link of "17 made up words: http://www.buzzfeed.com/adamellis/17...age#.lvnL3dqJB

Nonetheless, I could care less.

[Hangster]

Originally Posted by astrohip

No, it is NOT a word. There is no world in which irregardless is a word. It may be commonly used as an incorrect form of regardless, but that doesn't make it a word. Check out the very first word on this link of "17 made up words: http://www.buzzfeed.com/adamellis/17...age#.lvnL3dqJB

Nonetheless, I could care less.

Again, we are off topic, but:

Maybe you and the other poster knows more than Merriam-Webster about what is or is not a word, but I would put my trust in Merriam-Webster in this case to be correct.

Like I said to the other poster, someone should inform the Merriam-Webster dictionary to remove it from their dictionary..

With regards to Buzzfeed link, I put more trust in M-W than I do Buzzfeed..

I wonder why Merriam-Webster has it listed in their dictionary and in their description states specifically that it IS a word..

Read about it below in the bold and underline.

Irregardless | Definition of irregardless by Merriam-Webster



From the Merriam-Webster link above :


Irregardless:

adverb ir·re·gard·less \ˌir-i-ˈgärd-ləs\

Definition of IRREGARDLESS
nonstandard

: regardless


Usage Discussion of IRREGARDLESS


Irregardless originated in dialectal American speech in the early 20th century. Its fairly widespread use in speech called it to the attention of usage commentators as early as 1927. The most frequently repeated remark about it is that “there is no such word.” There is such a word, however. It is still used primarily in speech, although it can be found from time to time in edited prose. Its reputation has not risen over the years, and it is still a long way from general acceptance. Use regardless instead.

[SuperPollito]

Originally Posted by Hangster

Again, we are off topic, but:

Maybe you and the other poster knows more than Merriam-Webster about what is or is not a word, but I would put my trust in Merriam-Webster in this case to be correct.

Merriam-Webster is a dictionary for school children. Professional adults rely on such fine publications as the Oxford Dictionary, which states:

"Irregardless is widely heard, perhaps arising under the influence of such perfectly correct forms as irrespective, but should be avoided by careful users of English. Use regardless to mean ‘without regard or consideration for’ or ‘nevertheless’."

Not that it matters to you good sir, as you've proven yourself quite willing to remain steadfastly obstinate in the face of overwhelming evidence of your incorrectness.

[Hangster]

Originally Posted by SuperPollito

Merriam-Webster is a dictionary for school children. Professional adults rely on such fine publications as the Oxford Dictionary, which states:

"Irregardless is widely heard, perhaps arising under the influence of such perfectly correct forms as irrespective, but should be avoided by careful users of English. Use regardless to mean ‘without regard or consideration for’ or ‘nevertheless’."

Not that it matters to you good sir, as you've proven yourself quite willing to remain steadfastly obstinate in the face of overwhelming evidence of your incorrectness.

Well, thank you for the information and snub about M-W, however, your original quote was:

Originally Posted by SuperPollito

"Irregardless" is not a word. Cheers!

And I will use your, how should you put it, "Fine" Oxford Dictionary in the link below:


irregardless: definition of irregardless in Oxford dictionary (American English) (US)

As you can see, according to your "Fine" Oxford dictionary it is also listed as a word with a definition as well.


irregardless
Syllabification: ir·re·gard·less
Pronunciation: /ˌirəˈɡärdləs/

Definition of irregardless in English:

adjective& adverb
informal



So you are saying it is Not a word but it shows up in your fine Oxford dictionary as a word with a definition?


Now, I will agree it is not a proper word as I said before, and had you state it as such and should not be used, then I would agree. But to say it is NOT a word as you originally did is just wrong. Especially when you mock the M-W dictionary and then site the Oxford dictionary that has a listing and definition for it and calling it not a word is just.. well.. wrong..

[Hangster]

Originally Posted by Rip808

Earnest money is usually non refundable. One way around this is to not put your home on the market, have the lender try to qualify you to as if you were buying the home and paying the mortgage on your current one. The goal being that you do NOT get qualified by the bank and then you can get your earnest money back. It's going to be an uphill battle for sure.

I do not believe this is the proper route to go. Residential Earnest Money Contracts have a Contingency option. If the OP has the contracted based on the Contingency, then in order for the contract to be valid, the contingency must be met, in most cases the contingency is based on the sale of a current home owned by the buyer. As the OP has mentioned there is a contingency, then its pretty much covered.

Most Contingency in Residential Earnest Money Contract reads (although there are variations) :

"Contingency: Buyer presently owns a home at ------ , which buyer must sell to be able to complete the purchase of the Property. Therefore, Buyer fully understands that this Contract is contingent upon Buyer presenting Seller with a contract for the sale of Buyer's Existing home with (xx) days from the effective date of this contract ("Contingency"). If buyer's existing home is not already listed for sale, buyer shall list buyer's existing home for sale through a licensed real estate broker, with such listing to be included in an appropriate multiple listing service. If the contingency is not satisfied or waived by the Buyer within the aforementioned (xx) day contingency period, this Contract shall terminate, the Earnest Money shall be refunded to the buyer, and the Seller shall retain all Option Money, if any."

Above is the contingency clause from my purchase contract, and other builders may have a slightly different worded variation, but overall they say pretty much the same. With contingency, you get your earnest money back if you don't satisfy the contingency requirements. You do lose the option money though, and rightly so.

In either case, OP should check with his/her builder contract.

This contingency is both protection for the buyer and the seller, but more so for the seller, since there is also a following clause that allows the seller to sell the house to another buyer during the contingency period, given the seller notify the buyer of such purchase and the buyer then has until the eod of the next business day to waive the contingency and either terminate the contract, or enter into a non contingent contract and thus removing the possibility of a refund of their earnest money.

[huma281]

Most contracts have a clause that if you don't get approved for financing, they will refund your earnest deposit. Only your earnest deposit, not options.

Even then, most sales people will try to fight to keep it. I think their 50% up front commission is tied into that deposit.

[Hangster]

Originally Posted by huma281

Most contracts have a clause that if you don't get approved for financing, they will refund your earnest deposit. Only your earnest deposit, not options.

Even then, most sales people will try to fight to keep it. I think their 50% up front commission is tied into that deposit.

Yes, agree, and that's where having a Realtor to handle all that for you is great. Which is why I never understood if you are a buyer why would you ever not consider having a Realtor..