It says there are no contingencies and any failure to close on the home will be considered default on my behalf and I will forfeit my earnest money. The initial contract states the earnest amount is $12,500.00 but when I provided my paperwork for my own lender, they required I deposit another $12,500.00.
What's the contract say about reasons you can back out (contingencies, etc)?
It says there are no contingencies and any failure to close on the home will be considered default on my behalf and I will forfeit my earnest money. The initial contract states the earnest amount is $12,500.00 but when I provided my paperwork for my own lender, they required I deposit another $12,500.00.
You sign or acknowledge anything acknowledging the increased earnest money amount?
Unfortunately yes
For that kind of money I suggest you consult a contracts/business/real eastate attorney.