Buyers want out

[gabismom]

What is the name of your state? VA. I am selling my home and the buyers want out. They have delayed the closing several times and now their loan lock in % expired and they don't want the house at the new % with monthly payments. The agent gave us a release to sign giving us the earnest money deposit. If I sign the form, am I exonerating them from liabilities of any further loss - i.e. mortgage payments until I sell the home, upkeep, difference between new contract amount ect...? When we listed the house, we were the only house for sale in the neighborhood. Now there are 7. The house is vacant by the way.

[HomeGuru]

Originally Posted by gabismom

What is the name of your state? VA. I am selling my home and the buyers want out. They have delayed the closing several times and now their loan lock in % expired and they don't want the house at the new % with monthly payments. The agent gave us a release to sign giving us the earnest money deposit. If I sign the form, am I exonerating them from liabilities of any further loss - i.e. mortgage payments until I sell the home, upkeep, difference between new contract amount ect...? When we listed the house, we were the only house for sale in the neighborhood. Now there are 7. The house is vacant by the way.

**A: yes, it appears so but then we don't know what the release form states.