Any recourse against End Buyer who backs out?

[Nemi W.]

Grrr....Assigned a contract to an End Buyer who just decided to not show up for the closing! Called him after receiving a call from the Title company. He said he's not sure anymore but will let me know tomorrow.

He gave a $2,000 REFUNDABLE deposit (I know, this was my first mistake).

I'm just wondering what I might be able to do. Can I just not sign the release of deposit or can I demand that we split it? I'm not concerned about keeping a relationship with him.

Any suggestions? Thanks.

[Account Closed]

without knowing the details of the contract, i'd say give the deposit back, bc it's refundable...lsat thing you want is a reputation that you're a 'deposit thief.' then nobody will do business with you..lesson learned, don't do refundable deposits anymore..this wil eliminate tire kickers and help you to concentrate on serious buyers only.