If you have commercial contract and the earnest money is not due for 14 days,
It has a 45 day feasibility. During that 45 days. $1000 is to be taken out of the earnest money if the contract is terminated. if that earnest money is never deposited then the thousand dollars fee for the disability time would not be deposited either. Forgotten
Since the $1000 is to be retained from the earnest money deposit. But, The earnest money deposit is never deposited. Is there an option to terminate during that first 14 days if the earnest money or option fee has never paid .
Received confirmation as to what I thought the answer was, in that is the buyer is still responsible to pay $1000 option fee , otherwise he’s liable to perform under the contract releasing $1000. He has an option to terminate.