Are you Losing Your EMD due to COVID-19?
Hello Investors,
For those of you who had deals under contract right before COVID-19 and cannot close due to perhaps lenders not lending, or any other reasons that COVID-19 might've caused. Are you guys losing all the earnest money deposit you had in escrow?
My partner and I had a few deals under contract, and one of the sellers is claiming the EMD because our lenders couldn't lend on the project. I feel as this should be prevented as COVID-19 was no one's fault.