A collection of specific questions buyers ask often, answered directly.
Do I Get My Earnest Money Back if the Deal Falls Through?
It depends on why the deal falls apart. If you cancel within your contingency periods (inspection, appraisal, loan), you typically get your deposit back. If you cancel outside your contingencies without a valid contractual reason, the seller may be entitled to keep it. This is exactly why understanding your contingency deadlines matters.
Can I Back Out of a Home Purchase After Signing a Contract?
Yes, within your contingency periods, generally without penalty. Once your contingencies have been removed or expired, backing out gets riskier and can put your earnest money, and in some cases more, at risk.
What Happens If the Appraisal Comes in Low?
You have a few options: renegotiate the price with the seller, cover the gap in cash if you can and want to, challenge the appraisal if you believe it’s inaccurate, or in some cases cancel under an appraisal contingency if one is in place. This is a normal, manageable situation, not a deal-ending one, in most cases.
Is an Escalation Clause a Good Strategy?
It can help you stay competitive in a multiple-offer situation without blindly overpaying, since it caps your top price. The tradeoff is that it can reveal your ceiling to the listing agent. Whether it’s the right tool depends on the specific competitive situation, which is worth discussing directly with your agent rather than using by default.
Is Buying a House With a Pool Worth the Maintenance in LA?
A pool adds real ongoing cost, typically a few thousand dollars a year for cleaning, chemicals, and equipment upkeep, plus the resurfacing cost every decade or so. Whether it’s worth it depends on how much you’ll actually use it and whether it’s a genuine priority versus something you feel like you’re “supposed” to want.
Should I Get an Earthquake Retrofit Before Buying an Older Home?
For older homes, especially those built before modern seismic codes, a retrofit inspection is worth getting before you buy, not after. It’s a negotiating point if the home needs one and doesn’t have it, and it’s a genuine safety and insurance consideration in California.
If you have a specific question about your own home search, get in touch and Efrat can give you a direct answer.