I put a deposit of $1,000 on a brand new condominium located in Wedgewood Village in Roseville through the real estate broker David Schultes of Schultes Realty. I signed a purchase agreement on the unit and they then told me to line up a mortgage and choose the color schemes of the condo. My copy of the purchase agreement had no clause stating what would happen if I were to back out of the deal. Knowing this, I wasnt too worried when I unfortunately was forced to back out some time before closing as my job in Michigan was moved out of state to Florida. I contacted Mr. Schultes on Tuesday May 24th and explained my dilemma. He reassured me I would get all of my deposit refunded. They would eventually sell the condo to the next buyer and I would be refunded of the money I put down after it sold to the next person.
I contacted my lawyer and explained the situation, and he agreed I should get all my money back. He asked me what exactly the purchase agreement said, and If it did state I would loose my deposit upon backing out. I looked it over and it revealed that nothing on my copy of the purchase agreement stated I would loose the money. I was not too worried at that point. The next day unfortunatley, David Schultes changed his story stating the builder was very mad that I chose green carpeting and for that he wasn't giving me any money back. Shortly after, I met with David, showed him the copy of the purchase agreement I signed and asked where It said I would be denied the refund of my earnest deposit money. He looked it over and seemingly mad tossed the papers back at me and said "I dont't know what to tell you". I left them a letter explaining my reasons for backing out and told them my lawyer would contact them. Mr. Schultes would not reveal the name of the builder or his phone number.
My lawyer will do that for me unless I hear back from the builder and MR. Schultes that I will be reimbursed somehow before hand.