I was listing agent for land.
Buyers agent submitted offer, cash, close 30 days no contingency.
Buyer dragged feet for almost 60 days talking about title issues and looking into it.
Buyer backs out days before the rescheduled closing citing buyer backed out per attorneys advice on title issues.
I found out the buyer was also buying abutting land and it failed to perc. (No public sewer available and that’s why they backed out of my sale.
I called buyers agent with this new info but didn’t tell her I knew full the full story.
She just repeated that due to title issues they can’t purchase, never mentioned the failed perc test.
I have not spoken with their attorney, so I’m not sure if the buyers agent is lying or if their attorney is lying to get the deposit back. $2000
This closes to a new buyer this week so I‘ll be reaching out to our attorney to see where this stands.
Am I right for trying to keep deposit?
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source https://www.reddit.com/r/RealEstate/comments/1fo6bv9/keep_deposit/
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