Subscribe to Answers
No but I've had one we had to fight for in order to get back.
John McCormack, CRS
no - but we've had plenty of insincere buyers of our short sale listings lose their earnest money!
Yes, $50,000. The soon to be ex wife would not sign off on the divorce in time.
No. I keep track of dates and let them know. I explain if they cancel once we are past the BINSR wihtout just cause (Ie loan contingency, etc) they will most likely lose said EM.
Yes I have had 3 buyers over 30 years loose their earnest money!
yes....and rightfully so....not my buyer....but it was my builder.... buyer was clearly in default and it cost that buyer $50,000!!!
I remember years ago, had a buyer that had been "pre-approved" by her own lender, and two days before the appraisal deadline found out the lender was not approved to do FHA loans. Seller kept their EM.
Captain Wayne - Rowlett Real Estate School Yes, i once had a buyer who increased their non-refundable EMD for an extension. It didn't work for them and they lost the EMD.
Yes, but they were not my buyer. It's the fee for requiring the seller to take the home off the market and creating all the associated devaluation issues.