You should read the purchase agreement. There should be language in the purchase agreement that spells out what happens to the earnest money should the buyer not be able to complete the transaction.
I'm not an attorney but my pure guess is as the transaction wasn't completed, the arbitration agreement may not be valid. But it would depend on the verbiage of the arbitration agreement.
What advice has your agent given you in this situation? And have you talked to an attorney?... more
the market is certainly picking up but to answer your question with more accuracy it would depend on your circumstances and objectives. If you'd like to chat and get a free market analysis on your house email or call us. Wen firstname.lastname@example.org... more
It's totally up to the buyer, agent and broker that you signed with. They can make stay to every letter of the contract.
If you are backing out, you have to have a very good reason. Buyers have more rights than sellers.
If the buyers miss any of the deadlines, such as when to give you funds, you can cancel.
Talk to your Realtor.... more
Susan--There are many homes going under agreement and selling in Randolph, MA. There are currently 146 homes still available and they are taking about 5 months to sell according to the Multiple Listing Service. The average sales price is $270,000 which is rather affordable for a location that offers an easy commute to Boston. Please feel free to contact me if you have more questions about the real estate market.