Asked by Ljpaul, Valencia, CA • Sat Jun 18, 2011
A hypochondriac opened escrow on our mother's house, paying asking price (cash). House is only four years old, only few minor blemishes which we rectified. We extended the contingency period for her. Three days prior to closing she canceled, under recommendation of her allergists. What are our right as a seller to retain her 5K holding deposit. We have incurred monetary and time losses. Not to mention the loss of the sale to the other interested party that was biding against her. We chose to go with crazy lady (unknown to us at the time) because she was an all cash offer.
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