Updated almost 18 years ago on . Most recent reply
recovering earnest money
i wonder if anyone can talk alittle about recovering earnest money. my particular situation was, a contract was signed, i put down 1000.00 for earnest money. when the closing date came, the contract expired, and we did not close that day. my lender was waiting for documents from the sellers bank involving the foreclosure the property was in. a full week went by, and i changed my mind, and notified my lender that i would not buy this property. 4 days later i was being contacted by the realtors that everything was set to close. we were out of contract, and now the seller refuses to release the 1000.00 back. he is demanding that i pay him 3000.00 dollars for his troubles. i told him i would give him the 1000.00, but he wanted more. we are in oklahoma, which probably explains it all, but if anyone can speak to this issue, i would appreciate it so much...