F
fupayme
Guest
What is the name of your state?OH
I am a seller of a portfolio of 40+ single family homes. The purchase agreement calls for a deposit to be tendered upon acceptance of the agreement.
I have been in contact with the buyers agent multiple times. The inspection period has expired and after multiple attempts to obtain the deposit, excuses continue.
Is the agreement bound even though the deposit has not been delievered? In the event that the deposit was delivered, the contract would now be deemed contingency free.
Can we send a demand for the deposit and if not delivered, sue for damages? At this point, we are asserting that the agreement was bound and that the buyer is obligated to remit the deposit. If they do not close, it is what it is. Either way we have an action for the deposit, remited or not. We believe that our continued request for the deposit throughout the period of the contract does not waive the buyers obligation even though the deposit was not forwarded on time.
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I am a seller of a portfolio of 40+ single family homes. The purchase agreement calls for a deposit to be tendered upon acceptance of the agreement.
I have been in contact with the buyers agent multiple times. The inspection period has expired and after multiple attempts to obtain the deposit, excuses continue.
Is the agreement bound even though the deposit has not been delievered? In the event that the deposit was delivered, the contract would now be deemed contingency free.
Can we send a demand for the deposit and if not delivered, sue for damages? At this point, we are asserting that the agreement was bound and that the buyer is obligated to remit the deposit. If they do not close, it is what it is. Either way we have an action for the deposit, remited or not. We believe that our continued request for the deposit throughout the period of the contract does not waive the buyers obligation even though the deposit was not forwarded on time.
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