Hello, my name is Vivien Tchen in LA. . The buyer back out for no reason after my house in escrow for 45 days. They agreed to pay the difference on

Asked by vivien tchen, Walnut, CA Thu Jul 3, 2014

the counter. Now they want the $10,000 EMD back. My question 1. Can we keep their EMD ? Because they can't provide the letter from the lender says they can't get the loan. 2. The escrow has been canceled but hasn't release the deposit to the buyer yet, in this situation, can we open escrow with a other buyer?

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3
Terry McCarl…, Agent, Cape Coral, FL
Mon Jul 28, 2014
The EMD should be addressed in your contract. Speak with your Realtor about this.
0 votes
Dorene Slavi…, Agent, Torrance, CA
Sun Jul 6, 2014
If you are in Escrow, the contingencies have been removed and if they back out they will forfeit their EMD. There could be other penalties as well, please refer to your contract and your Realtor to discuss, or hire a Real Estate Attorney to go over your additional options. Yes once this contract is cancelled, you can work with another buyer.
0 votes
Mom, Home Buyer, 02920
Thu Jul 3, 2014
Happened to me. Kept the EMD and got another buyer the next day.
0 votes
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