If something goes wrong in the transaction process, there's a possibility that either you will
get your earnest money deposit back or the seller will keep it.
Negotiate a sharing of the new costs with the seller or terminate the purchase agreement and
get their earnest money deposit back
Pros will help you to determine if you really need to cancel and, if so, manage the transaction so you can
get your earnest money deposit back.
If something goes wrong in the transaction process, there's a possibility that either you will
get your earnest money deposit back or the seller will keep it.
Not exact matches
To their surprise not only their loan
gets denied but also lose their
earnest money deposit... MORE
Editor's note: We
get a lot of questions from home buyers about the
earnest money deposit when buying a home.
You don't want to lose your
earnest money deposit or
get sued for damages the seller may have suffered by relying on your actions.
The only
money you will need is the
earnest money deposit once your offer
gets accepted.
As far as needing
money for a deal, if you're targeting private seller deals, you can usually
get away with putting down a small
deposit, as opposed to listed deals where you need 1k or more as an
earnest money deposit.
Was told that I would have to prove damages even to keep the 3 %
earnest money that was on
deposit with escrow, and that typically both sides agree to the cancellation of the contract and buyer cancelling escrow
gets fully refunded.
The buyer's initial
earnest money isn't the only
money that can
gets deposited into the escrow account.