Doesn’t matter what state your in this is basic contract law. You say the sellers rejected your offer and countered, but you don’t say clearly that you accepted their counter, if you didn’t then there is no contract, if you did then there is a contract.
Now is part two, did you have a inspection contingency in your contract to cover yourself, if you did and the property is not acceptable you have no problem unless there was something like a time limit that you failed to meet.
No inspection clause, then you must count on material facts the sellers failed to disclose, or misrepresented and if that doesn’t apply your out of luck unless you can use some other contingency clause such as financing, e.g. home fails to appraise high enough because of it’s condition and you can’t get the required loan amount.
If you use the word cancel , instead of breach of contract, with ignorance being your excuse is there anyway possibe to recieve earnest moneys back from a builder.
breach means “failure to perform”, so it doesn’t matter what you call it, if you cancel, negate, terminate, rescind, annul or repeal, it will have the same effect. If the builder doesn’t want to return it he doesn’t have to.
I recently put an offer on the table and the sellers countered this offer. I then got an inspection of the property. The inspection was not satisfactory and the home that was said to be in excellent condition was actually a fixer upper. In the state of virginia, what’s the process of backing out at this point? I don’t think the seller should have this much power over the buyer if their not satisfied. This is america and we have the right to choose.