In this episode, Luke and I explore a crucial question: Can a buyer lose their earnest money deposit? Not only do we provide a comprehensive answer, but we also explore the relationship between earnest money deposits and liquidated damages. We explain how liquidated damages not only means consenting to lose a predetermined amount of money; it also serves as an agreement to cap potential losses. Join us as we unravel these complex real estate contract concepts, to help both buyers and sellers understand the implications of their real estate transactions. Tune in to gain valuable insights and navigate the complexities of the real estate market with confidence.
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This content is not legal advice. Contact an attorney for legal advice.
For specific real estate sales or mortgage lending questions, you may contact chuck@fund2000.com