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Real Estate
Reply to "Waiving finc contingency -- what are we risking?"
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[quote=Anonymous]It’s very rare for the seller to ever get the EMD. They can’t re-list the house or accept other offers until it’s released on mutual consent. The buyer doesn’t have to agree to release. The sellers agent will do whatever they can to get the seller to release the EMD back to the buyer so they can quickly re list and get another buyer. If the buyer just needs more time, the agent will push for this. The sellers agent knows that a protected EMD fight will likely result in the seller getting a different listing agent when they finally can re-list. A real estate attorney would be absolutely fine going after the EMD understanding it would time and money and letting his client decide what they wanted to do. A real estate agent will act only in their best interest which is to make the seller think there is no way to get back the EMD and work with the existing buyer to get the deal done..ie get that agent their commission check! [/quote]
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