When we collect the holding deposit, if the tenant does not move in as they have agreed they forfeit their deposit and their application is revoked.  

The agreement specifically allowed KeyGlee to use the End Buyer's EMD to secure the underlying contract with the actual seller... and to forfeit that EMD if the End Buyer failed to close.

If your contract states that "time is of the essence", you could have forfeited your right to break the contract and get your EMD back simply by not adhering to the dates specified in the contract.

It is a national disgrace that nothing has been done on behalf of the victims.Clinton, and the institutions involved, should have been co-defendants in a criminal case in Federal Court. 

Charge Rent - $1,699.00 $434.75 2/26/2020 ACH ORAM-2910BROUGHAM- JEA Bill Utilities-12/30/19 - 01/21/20 ($46.10) ($1,264.25) 2/18/2020 ORAM-2910BROUGHAM-2910BROUGHAM Simonds - Amerson-Ballard - Firi - Trombley Charge Turn Over Expense - $1,650.00 ($1,218.15) 2/18/2020 SD Forfeit ORAM-2910BROUGHAM-2910BROUGHAM JWB Property Management Check Bank Transfer - Security Deposit transfer for ($1,650.00) ($2,868.15) 2/18/2020 SD Forfeit ORAM-2910BROUGHAM-2910BROUGHAM JWB Property Management Check Bank Transfer - Security Deposit transfer for $1,650.00 ($4,518.15) 2/18/2020 ACH ORAM-2910BROUGHAM- JWB Construction Group LLC Bill Turn Over Expense- ($3,268.15) ($2,868.15) 1/25/2020 ORAM-- Craig Oram Nacha Export Owner Draw - ($270.00) $400.00 1/25/2020 Check 1.26.20ALL ORAM-2910BROUGHAM- JWB Property Mgmt Bill Management Fees- ($30.00) $670.00 1/1/2020 BT4G891LLA4 ORAM-2910BROUGHAM-2910BROUGHAM tenant Charge Rent - $300.00 $700.00

Even if the property owner LLC is named as a co-defendant for construction related liability if you implement the steps I mentioned in my earlier post,  in most instances construction related liability can be deflected to Builder or responsible sub contractors. 

I was one of the fortunate ones that was able to get out of the contract and after all expenses (forfeited deposit, legal fees, holding costs, etc) lost less than $20k.  

However, it does mean forfeiting the deposits which is tough to swallow. 

I was heading down a similar path and fortunately I cancelled my contract and forfeited my deposit. 

Most people never actually buy the home, so they forfeit the down payment and move.