What If I decide I dont Want the Home

Milford home buyer tips – what if I decide I don’t want to the Milford home? For no reason in particular I just want out of the purchase agreement. You may be getting buyer’s remorse. You may think you over paid, or that a better house may come up.

If this happens before the home inspection you might have a chance to get out of it if there are some inspection issues. You can use the inspection issues as a reason to get out. Then you are safe and you can get your deposit back.

The other way you could possibly get out is if you don’t qualify for a mortgage any more. You would need to get a mortgage denial letter from your lender. Then you could get your deposit back. I as your agent have to send that along with a mutual release to the listing agent to get your money back. I have heard of some mortgage loan officers doing that letter for you even if it is not true.

If you just want to get out of buying that Milford home and the inspection has passed and your mortgage company won’t give you a denial letter then you are going to lose your earnest money deposit.

I always say you have to think about what you are doing to the other side. The Milford home owners think they have a deal with you. They are counting on you to buy their Milford home. The question I always ask is “How would you like that to happen to you” if somebody just decided for no reason to back out?

You can’t just change your mind and not expect to lose your earnest money. The seller has a valid contract and if there is no reason to get out they have the right to your deposit. It doesn’t matter if it is a Milford home or any home in Oakland County

$329,900

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21412 Holmbury Road

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5731 Bingham Drive

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0000 HIghland Park Drive

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Beds: 0 • Baths: 0