Asked by Toni Rose, Nashville, IN • Wed Aug 24, 2011
contract? I am one day from closing and suddenly the Buyer has cold feet. They are under contract with the only reason to walk away is problems with financing. They are approved for financing and I am willing to sell the house at the price appraised by their lender. I feel that the earnest money should come to me since they have kept my home off the market for almost 2 months. I was not informed up front of them wanting out; I was just asked to sign paperwork releasing them from the purchase agreement which also returned their earnest money. When I questioned this with the Broker I was informed they have no obligation to inform me that the buyer wants out. This seems ethically ambiguous.
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