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Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/you-may-be-limited-by-your-contract-as-to-how-much-30586624.aspx

Subject:  Re: Selling: more of a rant than anything Date:  3/12/2013  5:12 PM
Author:  inparadise Number:  124952 of 127680

You may be limited by your contract as to how much you can pursue the deposit money in court. What does it say, on the front and back pages of your contract, regarding disputes? Many contracts we have reviewed state that mediation is the course to follow in the event that the buyer and seller can not agree who gets the deposit back. Court tends to be in the very distant future if it is even a possibility.

Any dispute will be a loss for you, since you typically cannot market a property that is in dispute.

Good luck with this process, but for my money I would walk away and get more strict with your listing agent about how you want to handle contracts. This happening once is understandable. Twice??? Starts to make people wonder what is going on with the property.

IP
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