Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago on .
Most recent reply
presented by
Who keeps the EMD???
Hello,
Who would keep the EMD in this residential real estate scenario? Here’s the sequence of events:
- all buyer contingencies EXCEPT Loan contingency were removed
- Loan CR removal date was 9/21, buyer didn’t remove
- seller sends buyer a notice to buyer to preform to remove the loan contingency on 9/25
- contingency wasn’t removed
- COE DATE SET to 10/01
- On 10/03 buyer sends cancellation of contract pursuant to not being denied for a loan
- On 10/03 but after the delivery of the cancellation of contract, the seller sends a demand to close set for 10/08
Who keeps the EMD?
** The contingency was never removed and cancellation of escrow was sent by buyer before the demand to close was sent by selIer.
Most Popular Reply

You might want to tell us what state this is in, as state laws will vary greatly on this.
Also, does the contract have a paragraph on rhe disposition of emds,? Any paragraph on disputes?
- Russell Brazil
- [email protected]
- (301) 893-4635
- Podcast Guest on Show #192

District Invest Group
44 Reviews
5.0 stars