johnnamarchant
08-16-2006, 02:02 AM
The buyer signed contract 23 July and is supposed to be closing on 18 August. They never paid the $4000 dollar escrow, they never had the inspection done, they had a preapproval loan showing that they were qualified to purchase the home. To date they still say they are working on the financing and have not provided the earnest money. They are suppose to close on Friday but have not found a finance company. I have asked them to arbritrate/mediate to get their earnest money and they have not responded to my request. My house has been off of the market pending contract. They are now requesting an extension to the closing date but refuse to pay the $4000 escrow. What is my legal rights to the $4000 earnest money that was never placed in escrow? How do I get this money? They refused to respond to request for arbritation (bound by contract). They have not abided by the contract at all.
