Earnest Money Deposit
Hi everyone. Happy new years to all.
I have a concern about earnest money. I initially intended on double closing on a property however my B-C buyer backed out of the deal. I disclosed that earnest money was nonrefundable. The problem came about when my closing manager said that I need to talk to my broker to put a claim on the deposit because I dont own the property yet. and then suggested I spoke with an attorney.
My question is wouldnt I automatically be entitled for the deposit? and why should I have to speak with my broker?