Grace Wygal

"Marketing Specialist"

I'm a:	Real Estate Professional
Company:	Realty Executives e-Group
Location:	Shelby Twp
Phone:	(586) 292-3640

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About Me

Full time realtor since 1997, specializing in residential, vacant land and foreclosure properties.

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a buyer made an offer in which we accepted, now he is backing out after a week, do we have to refund his

Asked Thu Jul 17 2008, 18:08 by Gregg Cordwe… - Grand Junction - Home Selling - 3 answers

Grace Wygal answered:

Whether or not the earnest money deposit has to be refunded all depends on how the purchase contract was written up and what reasons the Buyer has given for not moving forward with the sale. Read the contract, was this first week the Buyer's due dilegence period, was certain conditions need to be met in order for the sale to move forward? Furthermore, if you keep the Buyers deposit, wrongfully, the buyer can put a lien of interest on your real estate and clouding the title. Read the contract. Did you use a Realtor? - Thu Jul 17 2008, 19:35

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