• Skip to main navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer

Quick Search

Search by Map

New Property Alerts

Free Home Value

Talk To Randelle Right Now!

Have a question? Give me a call at 213-254-7626, or you can click my photo for more options to call or email and I will contact you right away.

Trending Searches

  • Newest Downtown LA Lofts
  • All Downtown LA Lofts
  • The Financial District Lofts
  • The Fashion District Lofts
  • South Park Lofts
  • City West Lofts
  • Bunker Hill Lofts
  • Little Tokyo Lofts
  • The Historic Core Lofts
  • The Arts District Lofts
  • Barker Block Lofts for Sale
  • Barker Block Lofts for Lease
  • Barker Block Warehouse One for Sale
  • Biscuit Company Lofts for Sale
  • Biscuit Company Lofts for Lease
  • 1100 Wilshire Lofts for Sale
  • Barker Block Warehouse One for Lease
  • Toy Factory Lofts for Sale
  • 940 E 2nd Street Lofts for Lease

The RandelleGreen GroupThe RandelleGreen Group

Downtown Los Angeles Lofts

  • Home
  • Search
    • Advanced Search
    • Address Search
    • Map Search
    • Listing ID Search
    • Hot Property Alerts
    • My Account
  • Districts
    • The Arts District
    • The Historic Core
    • Little Tokyo
    • South Park
    • Bunker Hill
    • City West
    • The Fashion District
    • The Financial District
  • All Lofts/Condos
    • Luxury Apartments
    • All DTLA Lofts
  • Buying
    • Get Started
    • Mortgage Calculator
    • Buyer Tips & Tools
  • Selling
    • What’s Your Home Worth
    • Selling with Broker Randelle Green
    • Marketing Your Loft or Condo
    • Seller Tips & Tools
    • Sold Properties
  • About
    • About Randelle Green
    • What Our Clients Say
    • Contact
  • Blog
SearchClose

When Can You Get Your Earnest Money Back?

When Can You Get Your Earnest Money Back

In many cases when you’re buying a condo or loft for sale in Downtown Los Angeles, you can get your earnest money back if you cancel the transaction… but in some cases, you can’t.

Here’s when you can.

When Can You Get Your Earnest Money Back?

First things first: Your Realtor(R) will build contingencies into your purchase offer that allow you to back out of the transaction under some circumstances. As long as those circumstances exist, you should be able to leave the deal without forfeiting your earnest money deposit – but every case is different, so if you’re thinking about canceling, talk to your agent first.

Here’s when you should be able to get your earnest money back:

  • When the house appraises for less than you expect
  • When your financing falls through
  • When you find out the home has a big flaw

When the House Appraises for Less Than You Expect

When an appraisal comes in low, your lender is unlikely to give you the money for the house – but it may give you what it thinks it’s worth, based on the appraisal.

If the seller is unwilling to negotiate on price, but you can’t get the amount to buy the home that the seller wants, you should be able to walk away with your earnest money.

When Your Financing Falls Through

Nobody wants to be on the hook for buying a home when they don’t have the financing for it – and fortunately, your Realtor will build a financing contingency into your contract. That means you can cancel the transaction without losing the hefty earnest money deposit you put down.

When You Find Out the Home Has a Big Flaw

If the home has a major flaw that you just can’t work with (which will come out in the home inspection), you could be able to walk away from the deal and hang on to your earnest money deposit.

Are You Buying a Loft or Condo in DTLA?

Call us at 213-254-7626 or get in touch with us online to start exploring your options when you want to buy a loft or condo in downtown Los Angeles.

While you’re here, check out our:

  • DTLA Arts District lofts for sale
  • Historic Core lofts for sale
  • DTLA Little Tokyo lofts for sale
  • Bunker Hill lofts for sale
  • City West lofts for sale
  • South Park lofts for sale
  • Fashion District lofts for sale
  • Financial District lofts for sale

Posted in: Blog Tagged: Contingencies, Earnest Money

Search Smarter!

Did you know the hottest Downtown Los Angeles Lofts often sell within days of being listed? Don’t miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

New Property Alerts

As a local Downtown LA Real Estate Agent I also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact me at your convenience. There is no obligation and or pressure… I hope to hear from you!

Post navigation

« Let’s Talk About Home Inspections
Barker Block For Lease! »

Talk To Randelle Right Now!

Randelle Green
Have a question? Give me a call at 213-254-7626, or you can click my photo for more options to call or email and I will contact you right away.

Connect with The RandelleGreen Group:

Featured Post

SOLD! Evo #416

Contact Randelle Green

Downtown LA Lofts & Condos

213-254-7626
green@therandellegreengroup.com

Follow Us

The RandelleGreen Group

Downtown LA Lofts and Condos

213-254-7626
green@therandellegreengroup.com

Downtown LA Lofts & Condos
Los Angeles, Ca 90015

AREAS WE COVER:

Arts District, Historic Core, Little Tokyo, Bunker Hill, City West, South Park, The Fashion District, The Financial District, Newest Downtown Los Angeles Lofts & Condos, All Downtown Los Angeles Lofts & Condos

Connect with The RandelleGreen Group

© 2022 · The RandelleGreen Group · Randelle Green · 213-254-7626 · Privacy Policy · Terms of Service · Sitemap · IDX Sitemap · IDX XML Sitemap

Disclaimer - All Rights Reserved by TheRandelleGreenGroup.com

Log in · Real Estate Websites Logo | Downtown LA Lofts & Condos