Gave EMD to my realtor in mid-March in preparation for buying a house, found my house a week later and settled in June 2018. I received a call in Jan 2019 from my realtor advising that my EMD check bounced in April and asked me to check my records. I was never notified by anyone (the bank, the broker, the realtor, etc.) that this happened and I do not know why it happened because the funds were available at the time. Went to closing and settled without a hitch! Should I still be obligated to pay the EMD at this point? I've purchased the home and paying the mortgage on schedule each month. Any help would be truly appreciated.
It's not clear from your question whether the check in fact bounced or not. If it didn't, that should be easy enough to show with bank records. If it did (and wasn't otherwise accounted for at closing), then you might owe that amount- and you should discuss with a real estate attorney.
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EMD is part of the purchase price. If your check did bounce, then you have not paid the full purchase price....to the seller. I question the realtor's actions, as you describe. The EMD check or its proceeds should have been transmitted to the settlement company for disbursement to the seller. If not, then your payment of the sums due under the settlement agreement would have been short and settlement could not have occurred. Move slowly, but get all the information.
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