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Updated about 3 years ago on . Most recent reply

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Drew Sygit
#2 Out of State Investing Contributor
  • Property Manager
  • Royal Oak, MI
6,058
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9,348
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Holding Buyers Accountable

Drew Sygit
#2 Out of State Investing Contributor
  • Property Manager
  • Royal Oak, MI
Posted

What do agents think about recommending to sellers that they include a clause in the purchase contract that the buyer's EMD is no longer refundable, and immediately disbursed to the seller, upon satisfactory inspection, appraisal and title?

Once those 3 items are accepted by the buyer, the only reason the closing won't happen is due to the buyer's fault - including NOT getting approved for their financing.

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