Ask Brian: What Happens When a Home Buyer Backs Out of a Signed Purchase Agreement?
Realty Biz
MAY 24, 2022
You did get an earnest money deposit, didn’t you? It’s normal to stop trying to sell a house while waiting for an appraisal, a home inspection, final mortgage approval, and for the sale to close. When the sale closes, the earnest money is usually applied towards the purchase price.
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