If Buyer Backs Out Who Gets Earnest Money

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If buyer pulls offer, can seller keep deposit? – If the buyer wants to back out of the contract using excuses that are not listed in the signed contract, I would consider this a default and (depending on the terms and conditions of the contract) you.

Seller’s right to earnest money not assured – DEAR BENNY: Our buyer defaulted on his real estate contract and has decided not to buy our house. He had put up a $20,000 earnest money deposit. the escrow agent cannot give the money back to the.

Home Builder Reviews and Suggestions – June 2018. We have just been contacted by another set of lawyers, acting on behalf of Jason Strange, of MASS Construction, the current Wellington/Manawatu/Wairarapa franchise for Platinum Homes.

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Q&A: After inspection, buyer pulls out, can’t get refund – I read your article about the people who were upset that their buyer wanted their $1,000 earnest money. and asked for the money to be returned. That was more than a year ago. We have paid a lawyer.

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On the Move: What newcomers need to know about closing on their new home – They hold the earnest. money, and people are doing it,” Brand said. “This is a big deal and a big challenge in our industry. There’s nothing worse than seeing a buyer lose their life savings to bad.

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