2006-06-29 15:48:13 · 6 answers · asked by Miss Plop 1 in Home & Garden ➔ Other - Home & Garden
I work for a homebuilder. If a buyer does not keep his sales contract, the seller gets the deposit.
I work in the accounting department. I have seen people lose $20,000 or more in earnest money. I feel like screaming, how can anyone afford to lose that much money.
The sad thing is, this is very common.
2006-06-29 15:53:09 · answer #1 · answered by fasn8n_67 4 · 0⤊ 0⤋
Yes
2006-06-29 16:00:52 · answer #2 · answered by robert p 2 · 0⤊ 0⤋
It usually depends on the purchase contract, see what the contract says. Is there a contingency? It is recommended you run this by an attorney. And it may be State specific, so you should not accept any one answer here as correct, it may depend on your State law in conjunction with the purchase contract.
2006-06-29 16:00:32 · answer #3 · answered by Maisy 3 · 0⤊ 0⤋
Usually, unless they were turned down for a mortgage loan.
2006-06-29 15:52:17 · answer #4 · answered by ☼Jims Brain☼ 6 · 0⤊ 0⤋
yes
2006-06-29 15:50:03 · answer #5 · answered by DARRELL R 1 · 0⤊ 0⤋
Yes they are supposed to.
2006-06-29 15:50:04 · answer #6 · answered by Anonymous · 0⤊ 0⤋