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We Paid a good lump of our savings towards earnest money at the time of signing the contract for a condo. However, due to builder not agreeing to purchase the flood insurance required by the loaning bank, the contract was made void within 5 days (as specified in the contract). Now the builder is not returning the money. He wants to charge us a fee for the time he spent on the deal. In reality, we already have spent about $1000 on home inspection, appraisal etc on a house that we are not purchasing. I'm not sure how we should proceed. We really appreciate any suggestion.