Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago on . Most recent reply

Earnest Money issues
So recently I purchased a home to flip and for the most part everything went fairly smooth. We originally posted the home for sale on 10/15/21 and had an offer for full price the first day. The buyer agreed to pay full price putting down $100k and financing the rest and they are paying closing costs with $2,000 earnest money. Seemed good so we accepted. I have a signed contract and now we start to move toward getting inspections scheduled but my realtor still hadn't seen the earnest money being deposited. The buyer has five business days to deposit per our contract. On 10/20/21 I get a call from my agent saying that the buyer has ghosted their realtor & broker and they never received the earnest money. Do I have any recourse to go after our $2,000 earnest money per our contract? Any help would be appreciated.
Thanks in advance!
Ryan Barber
Most Popular Reply

@Kevin Sobilo Honestly I could care less about making a buck off of the earnest money. I feel like its my duty not to allow this to continue and to teach a lesson to the buyers broker or the buyer. Currently my agent has offered to take $1500 off of their commissions cause they feel at fault. I do not want this to happen in any way and would rather hold the buyer and the buyers broker be accountable. I appreciate your feedback though Kevin!