Question: Two weeks prior to the proposed closing date, a buyer decides to purchase a different property. The buyer requests an earnest money refund. Which of
Two weeks prior to the proposed closing date, a buyer decides to purchase a different property. The buyer requests an earnest money refund. Which of the following is the best practice for the buyer's broker?
a. negotiate with the listing broker to divide the earnest money equitably
b. inform the listing broker that the seller must return the earnest money
c. request the seller agree to cancel the contract and return the earnest money
d. request that the listing broker sign an earnest money release agreement
Step by Step Solution
3.35 Rating (161 Votes )
There are 3 Steps involved in it
The option c is correct Explanation If a buyer backs ou... View full answer
Get step-by-step solutions from verified subject matter experts
