Some home sellers in Sacramento tend to believe that if a buyer tries to cancel a purchase contract after releasing all of their contingencies, that the seller is automatically entitled to the buyer's earnest money deposit, which is not exactly the case. Being entitled to it and getting it are two different things. I've worked with sellers who have been hopping mad when buyers can't perform, and they want that earnest money deposit. What they aren't counting on is for the buyer to put up a fight and resist.
Sometimes they look at this Sacramento REALTOR and expect me to go get the money for them. I have to remind them I am not a lawyer. In seller's minds there is definitely a blurred line between Sacramento REALTORS and a lawyer, but I see a very clear distinction between the two.
You can read more in my personal blog today about An Approach to Sacramento Home Buyer's Earnest Money Deposit.
Comments(7)