Earnest money
Mediation Always Before Filing Litigation
Question: We signed the Realtor purchase contract with the buyer of our Cave Creek home. The buyer deposited with the escrow company $100,000 earnest money. All inspections were fine, and escrow was scheduled to close on Wednesday. Today our Realtor said that the buyer now wants to cancel the Realtor purchase contract because our neighborhood…
Read MoreUnlawful Forfeiture of Earnest Money During COVID Pandemic
Question: We live in New York. In February 2020 we signed the homebuilder’s Purchase Contract for the purchase of a new home in North Phoenix. We deposited $50,000 earnest money. Under the Purchase Contract we had 30 days to do the inspection and to cancel the Purchase Contact, or the $50,000 earnest money would be…
Read MoreWrongful Release of Earnest Money to Buyer by Title Company
Question: My husband is a USAF jet pilot. We were stationed at Luke AFB for three years, but we were recently transferred to Eglin AFB in Florida. We temporarily are living in base housing, but we wanted to buy a home as soon as possible after the sale of our Glendale home. When we moved…
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