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Earnest money and shady realtor

Earnest money and rate hikes

Our loan process started in March because of a house we loved (house was actually shit), but regardless, we got pre approved at 6.57% for that house. However it didn't pass inspection, "worst house ever seen"" according to the inspector. So we moved on to other houses using our lenders recommended realtor. She made us sign a contract with her. We're in FL (idk if that matters). Had the first house passed inspection everything would've been fine. But all the houses we viewed after she gave used car salesman vibes, pushing us to make offers even if the house obviously sucked. Trying to play up foundation issues as "normal" i.e. giant cracks in garage floors where the door doesn't close properly and flippers did the most hap Hazzard renovation she's say oh this is great and "move in ready" Long story short, we eventually DO find another house, throughvisiting open houses ourselves. The realtor has never seen this house, BUT argued for a higher offer (all sales are stagnant in the area) so I wanted to offer 550k, but she reprimanded me saying my offer is low ball and we have to offer x amount (600k) ...my husband is over house hunting and took her side. So here we are about to close on this house. Which this time did pass inspection, but imo is overpriced and at a wayyyy higher rate (6.87%) than the original house in March (6.57%) ....all estimates are coming in higher then originally quoted and we're only a few days away from closing. I feel like our monthly payment doesn't justify the home We're buying. I don't think we could even rent the house out for what our mortgage would be. Plus other things have come up, now the lender needs a lease agreement for our current home. She originally said our finances allowed us to float both mortgages while we move. But underwriters just sent an email asking for a lease on our current home (5 days out from closing) ...... there's no way.

Long long story short, what are our options for getting our earnest money back(5k)? The monthly payment with 2/1 buy down will still be around 4.5k / month(and that's only for the first year) . Idk if it's worth it. The house is OK condition. Around 1900 sq feet , 4/2 with pool .. semi updated (old windows, popcorn ceilings, backs up to a school, but nice pool area and non flood). I feel we could get a better deal given the market in FL. And especially with a better realtor that's actually on our side.

submitted by /u/Capable-Oil8778
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source https://www.reddit.com/r/RealEstate/comments/1kc3glh/earnest_money_and_shady_realtor/

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