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Old 04-06-2011, 09:44 PM
 
5 posts, read 36,272 times
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Yes same agent as us.
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Old 04-06-2011, 10:05 PM
 
5 posts, read 36,272 times
Reputation: 12
Buyers asking $5000 or break deal. Can we claim deposit if they do not remove contigency as apparial and loan and inspection all contigency are removed. They are not signing it.

Please advise.
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Old 04-06-2011, 11:19 PM
 
28,115 posts, read 63,680,034 times
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For a specific like this, the contract would need to be reviewed by a legal professional in my opinion and you will have a better understanding of the process.

One word or nuance can change the entire meaning.

My limited experience is the Title Company will hold the deposit indefinitely unless both parties agree or there is a court order.

You certainly could throw a monkey wrench into the works if all contract contingencies have been met or signed-off and you instruct the Title/Escrow not to release the deposit.

I've used Dual Agency Agents and no problems... it can put the agent in an awkward position when it comes to negotiating on behalf of both parties.

Just a thought... you might want to ask for a meeting with the agent's broker to discuss the situation... I realize nothing may come of it... on the other hand, you will have an opportunity to consider your position as you hear what the Broker has to say.

I'm not a lawyer or broker... and City-Data.com does not offer legal advice.
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