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Updated over 8 years ago,
Seller's Agreement - Buyer Defaults
Hey guys. I know the standard answer is to see my lawyer, but what I have is so slam dunk that Johnny Cochran couldn't get them out of it. The buyer defaulted on getting the mortgage secured within the time applicable. The first settlement was moved once for him, and the second settlement never happened either. My RE is telling me the judge won't just give me the full deposit because I will have to prove how much money I lost, and that will be the amount. I completely disagree with my RE on this topic. But in the contract, it's black and white as anything, that I get the full amount if the Buyer defaults. Does anyone have any experience with this? I'm not going to be the victim, and if the shoes were on the other foot, I guarantee they'd be after me like nothing else.