Home Shady Lane

Retailers, Manufacturers, ePay, AudiogoN, Paypal or whatever. Buying and selling advice.

RE: Opinions wanted...

>> Hey, I changed my mind about buying a house when I found I couldn't sell
>> mine, gave the guy two months' notice (before the scheduled closing), he
>> sold the house for the asking price, and kept my $25,000 deposit.

Around my part of the world it is standard practice to have a contingency clause in a real estate agreement that returns the escrowed deposit if the buyer cannot obtain financing or fails to sell his current house.

A knowledgeable real estate broker or good attorney will make sure such language is in your purchase offer, or warn you of the implications if the seller declines to accept those contingencies.


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  • RE: Opinions wanted... - mls-stl 14:18:55 03/24/10 (0)

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