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We had. A home for sale for a while and we finally got an offer last week Well, we were not really happy with it, our travel agent told us to go with him and not against the offer, which I felt was reasonable. Well, the lady is a deposit of $ 100 good faith. Three days later, we learned that they approve in advance, but w / a generous payment to him by his father. Now, the father said he never said that it was not him $ for a down payment. So my question is, what happens to the good faith deposit she put $ 100 discount. I ask because the agency does not even mention the money, or what happens to him. I’ve go a good idea where it should be, but someone has an absolute answer for me?

4 Thoughts on Good faith deposit – What happened to him, if the purchaser can not be financed, and the case is not the case?
  1. Reply
    Dr Housing Bubble
    March 13, 2013 at 8:28 pm

    Normally the money will go directly to you. Make sure you consult with your agent and see how the residential purchase agreement was drafted. Normally deposits are forfeit if the buyer recants and doesn’t close on the deal.

    Hopefully you’ll be able to get at least the $ 100. After all, they did tie up your home for the time being so the money is rightfully yours.

    Dr. Housing Bubble

  2. Reply
    March 13, 2013 at 8:52 pm

    If I were a gambling woman, my money would be on the buyer. It’s different in every state, most state contracts are to protect the buyer.

  3. Reply
    March 13, 2013 at 9:42 pm

    First of all, I would NEVER have agreed to remove my home from the market with a mere $ 100.00 Deposit! What would make you think she is a serious buyer, $ 100.00 is chump change. You need to read your contract, see if it lists specifically returned to seller if financing falls through, if so you need to refund her money.
    Please do your self a huge favor, Get a New Real Estate Agent!! This one sounds like an idiot! Next time you get an offer, my advise is to ask for a $ 5000.00 deposit. If you must, at least get $ 2500.00. Believe me, they will try harder buy your house if there is more to loose!!
    Good Luck!

  4. Reply
    March 13, 2013 at 10:15 pm

    If she gave you an earnest deposit, you keep the money.

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