Can the seller keep the 3% earnest money if buyer backs out of the deal 2 days after written offer was accepted

Palo Alto, CA Viewed 353 times. Posted about 1 year ago in Real Estate

Realestate transaction: At Friday Buyer made an written offer and said: "I'll bring 3% earnest payment (pledge? dawn payment) check at Monday"...

At Saturday I accepted said offer and sighen it

At Sunday morning Bayer notified me that he cancel the deal
Can I get said 3% as a forfeit?

Answers (1)

John M. Kaman

This attorney is licensed in California. Posted about 1 year ago.

That depends o the language of your contract. You may be able to treat it as a forfeiture but since you don't have it and it won't be paid, is it worth the grief to try to collect?

www.kamanlaw.com

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