Earnest Money Return

[pulsar1]

A person puts an offer on my house in Iowa, and puts up Earnest money. I didn't know this was a problem, but the inspection report states that there are wall anchors in one wall and a slight bowing in another wall of my basement, but there's no structural damage. Now the person withdrew from the offer and wants the Ernest money back. The inspector said that there's nothing wrong with the wall, the anchors fixed the problem, and recommended the buyer have a specialist come out if there is concern. The buyer doesn't care, and wants the money back. Am I legally obligated to return the money since Iowa Code Chapter 558A requires disclosure relating to the condition and important characteristics of the property and structures including significant defects in the structural integrity of the residence & Section 558A.6 states a person who violates the disclosure statute shall be liable for actual damages?

Thanks

 

[army judge]

Let's just say, save yourself from being sued for UNJUST ENRICHMENT or worse.

If you get another buyer, make sure you show them the latest inspector's findings.

Make your life easy, and keep it stress free.

You understand why and how this benefits you. So, do what's RIGHT, not necessarily what's legal.