What should I do about the EMD
I am not sure what to do over the EMD. Being new to wholesaling, I think I did it wrong. Just that the deal came to us and I wanted to try to follow everything through correctly, and quickly. So after the contract was signed by the seller and myself. I sent the contract along with a check to the title company. I think I am seeing now that I should have waited for a buyer.
In any case the seller gave me issues with two different buyers. The first thing was having someone look at the property. It took 4 days for her to get the tenants to let someone call and schedule a day to go view the property. The buyer loss interest, or said they did over the tenants not being co operative.
Another potential buyer was wanting to see the rental agreement she had with the tenants She would not let me have a copy to show the buyer that the figures she was giving us was indeed the amount she was getting for the property. She pushed that in the contract it states she did not have to turn that over until closing. When in fact that meant the rental contract would pass to the buyer. I did put a clause on the contract that states "sale is subject to inspection or partner approval".
Now I have to get a release signed by her to turn over to the title company to get the money back. When I tried to talk to her about it I was going to offer her half, just to get it wrapped up. I didn't even get to state that and she started getting really mad and is saying the money is hers. That she is going to sue me for it. At the end of the conversation I just said it could sit in escrow for all I care.
The only thing I can think of trying at this time is to send a copy of the contract with the two items highlighted and a copy of the release and a self addressed envelope for her to return.
Any other ideas?