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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]1.  Your agent should be getting real offers - this is their job

2.  You should be very careful about contingencies and their length of time to be satisfied.   Few contingencies, and short durations - for instance 5 days is the max I would give on a home inspection

3.  Get a big EMD - once the contingencies are relieved - you keep it.   We have done this before.   Cold feet or flaky are not contingencies.

[/quote]

No if a buyer defaults on a contract after all contingencies, the seller does not "keep" the deposit.  The buyer must sign a release giving the money to the seller. If the buyer does not sign the release a court determines what happens to the deposit.  The larger the earnest money deposit, the more likely a buyer will not release the funds and the more likely the court will not award tge full amount to the seller.  The seller is still under contract to that buyer and cannot sell to another party until the first contract is released [/quote]
Actually once contingencies are gone, the contract is ratified and you are headed for closing.   If the buyer wants out - they are the one that needs a release and that release should not include releasing the EMD.   We were in this exact situation - all contingencies released.   Buyer wrote us a letter saying that they reconsidered and wanted out.   We kept $35K in EMD to release them.

[/quote]

Nice! They got what they deserved [/quote]

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