Sentences with phrase «nonrefundable earnest»
Resigned and trusting, Alex and Monique give the builder a $ 10,000 nonrefundable earnest money deposit as stipulated in the contract.
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Armed with a realistic understanding of the semantics behind the term nonrefundable earnest money, your buyers will be spared misunderstandings, and potentially, lost funds.
Navigate the nonrefundable earnest money minefield with extreme caution.
A seeming oxymoron is nonrefundable earnest money, a euphemism that some sellers use for a deposit that they intend to keep whether or not the sale goes through.
Not exact matches
Let's look at a common situation that illustrates the confusion that can occur when a seller refers to a nonrefundable deposit as earnest money.
The transaction required the venture to post a $ 10 million earnest money deposit, which is nonrefundable provided certain estoppels and consents are received and certain other customary conditions are satisfied.
Keep in mind, though, that it all depends on your contract: If it says your earnest money is nonrefundable, then you're probably not getting it back without a lawsuit.