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Real Estate
Reply to "Buyer losing an earnest money deposit - how does it work?"
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[quote=Anonymous][quote=Anonymous]OP here. There was a financing contingency in the original contract. Addendum says financing contingency is now removed. So if it's removed, and buyer cannot meet the new settlement deadline (no inspection, appraisal already completed), they lose their deposit. Right? That's what my realtor says, but it never hurts to crowdsource lol [/quote] If there’s an addendum you need to be sure that there was consideration and also that all of the prior terms still are intact. [/quote]
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