the buyers title company took too long and exceeded the time is of the essence clause date. now they want out. there is a 10k deposit involved. Can i be awarded the 10k
2006-09-21 17:54:19 · 2 answers · asked by andrewakawoodz 1 in Business & Finance ➔ Renting & Real Estate
Depends on the laws in your state. A 30 day escrow is only an estimated closing in 30 days. Here in California the buyer has 17 days to do the appraisal, home inspection, research associations etc. After they are done doing their research period they can not change their mind without losing their deposit. It is earnest money which is their gurantee they are serious about buying the property.
2006-09-21 18:16:06 · answer #1 · answered by GEE-GEE 5 · 0⤊ 0⤋
Hi Im a Real Estate Agent in Orange County,CA please feel free to give me a call, my toll free numer is 1(866) 825-9618
California Home Realty. Thank You
Was there ever a Contingency Removal Signed by the buyer?Did the buyers back out?
2006-09-22 05:09:06 · answer #2 · answered by The O.C Real Estate Agent 2 · 0⤊ 0⤋