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How can I get a refund for my earnest money with a new construction builder?

Hi, I recently went under contract with a local builder, but I want to back out of the deal due to how the market is headed.

The text below is from my contract, am I able to get a full refund? I can't fully understand this part of the contract, it's for an FHA loan.

What are my options to back out with my earnest money refunded?

It is expressly agreed that, notwithstanding any other provisions of this Contract, Buyer shall not be obligated to complete the purchase of Property described herein or to incur any penalty by forfeiture of earnest money deposits or otherwise unless Buyer has been given in accordance with the Department of Housing and Urban Development (“HUD”) / Federal Housing Administration (“FHA”) requirements a written statement by the Federal Housing Commissioner or a Direct Endorsement lender setting forth the appraised value of Property of not less than ($XXX,XXX) . Buyer shall have the privilege and option of proceeding with consummation of the Contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage HUD will insure. HUD does not warrant the value or condition of the Property. The Buyer should satisfy himself/herself that the price and condition of the Property are acceptable. If Buyer elects to complete the purchase at an amount that exceeds the appraised value, Buyer shall pay the excess amount in cash from a source Buyer will disclose to the FHA or VA, which funds shall not be borrowed funds except as the FHA or VA shall approve in writing.

submitted by /u/PrivacyOSx
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source https://www.reddit.com/r/RealEstate/comments/zo1it7/how_can_i_get_a_refund_for_my_earnest_money_with/
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