Seller fails to deposit earnest money

[redeemed]

What is the name of your state? WA

If a buyer is one week past the stated agreed date to deposit earnest money to the agreed institution and has not yet made the deposit there or to any other involved party and the seller delivers a rescision to the buyer's agent to declare the contract, which contains a time of the essence clause, void, does this allow the seller to walk away from the agreement legaly regardless of the seller's motivation to cancel the sale.?

[lcannister]

Originally Posted by redeemed

What is the name of your state? WA

If a buyer is one week past the stated agreed date to deposit earnest money to the agreed institution and has not yet made the deposit there or to any other involved party and the seller delivers a rescision to the buyer's agent to declare the contract, which contains a time of the essence clause, void, does this allow the seller to walk away from the agreement legaly regardless of the seller's motivation to cancel the sale.?

Absolutely, barring an added extension period in a LEGALLY binding contract, why would you think differently? How long did you expect the seller to sit on your offer without any sign on your part that you were serious in the purchase?