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This question always seems to come up from a seller when the buyer decides to back out of a real estate transaction or purchase.

The answer to the question, as with a lot of real estate related questions, is "it all depends." Take a look below for my answer.

 

Like the video above? Check out some of my other video posts.

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Let's Be Earnest When Talking About A Good Faith Deposit


Syndicated from & originally posted at The Big Bear Skinny.

 

2 Comments on Can I Keep The Buyer's Deposit If They Cancel The Deal?

DEC
15
2008

Hi Tyler, posting on earnest $$ is always risky and you've done well here.  Seems contracts in Iowa are similar, and this is always a hard question to answer.  I have had only ONE buyer or seller (only 3 years in the biz) break a contract, so I guess I'm still waiting to see how this one plays out. I had the seller and the buyer and seller agreed to split the $ without mediation. 

Also...love the video posting.  Seems like  it's a great idea to say what you need to...but I'm just not that brave yet!

 
Amber Salmon
9:28am • #1
Hit Router

Thanks Amber. 

Yeah, never a great situation to be in but we are dealing with contracts and it does happen from time to time. 

On the video front, I found it is best just to jump in a give it a try.  I think it is the best way (other than face to face) for people to see who you are and what you are about.  It put a face and person to your words.  I do believe it is going to be more and more prevalent over the next year and beyond.
1:02pm • #2

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Tyler Wood ~ Big Bear Real Estate

Big Bear Lake, CA

More about me…

Coldwell Banker, Mountain Gallery Realtors

Address: 42153 Big Bear Blvd., PO BOX 6820, Big Bear Lake, CA, 92315

Office Phone: (909) 866-3481

Cell Phone: (909) 725-3485

Email Me




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Tyler Wood, Real Estate Professional in Big Bear Lake



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