Return of ernest money

[mduren]

What is the name of your state? ME

We are selling our house and the buyers backed out. The sale was contingent on them selling their house (sale of property addendum). The original was for 30 days, we renewed it for another 30 days. It expired and we were trying to work out other options with the buyers when the cut off negotiations and walked. Now they want the ernest money back. Ofcourse we want it becasue they walked.

Becasue of the sale of property addendum, are they entitled to the ernest money? If it goes to small claims court, do we have change of getting some of it?

[HomeGuru]

Originally Posted by mduren

What is the name of your state? ME

We are selling our house and the buyers backed out. The sale was contingent on them selling their house (sale of property addendum). The original was for 30 days, we renewed it for another 30 days. It expired and we were trying to work out other options with the buyers when the cut off negotiations and walked. Now they want the ernest money back. Ofcourse we want it becasue they walked.

Becasue of the sale of property addendum, are they entitled to the ernest money? If it goes to small claims court, do we have change of getting some of it?

**A: return the money.