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Sparky SnotsLicker. Charter Member of S.N.O.T.S.
I am a free spirit who is grateful for my life and freedom...today.
Christine Burgess
Chris Eskelsen, The realtor does not keep your earnest money. The seller gets to keep your earnest money for backing out of the deal, for whatever reason. That is why there is such a thing as earnest money. It is a non-refundable deposit. The earnest money is to compensate the seller for holding the house for you, instead of selling it to someone else. If you would have bought the house, the earnest money would have been deducted from the selling cost. Sorry you lost out.
Anna Sparky's Mom
Life is a one lap race. Make many pitstops.
Earnest money is given as a guarantee that you will complete the sale. Only if the seller backs out of the sale is the buyer due their earnest money refunded. Evidently you were the party that backed out of the sale.
Earnest money is a deposit that purposely aims to bind the real estate sale. Since you backed out of the agreement, it will not be given back to you.
Did you have an attorney if so they are responsible .
If not I would go to the board of realtors.
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