Posted by Rich-CA on August 29, 2007 at 21:09:15:
Does the contract state that earnest money constitutes “liquidated damages”? This is in any of the contracts I have read. Check to see if its there.
ernest money deposit - Posted by Helene
Posted by Helene on August 29, 2007 at 18:15:34:
When I wrote this contract and had doubts about the two year build out, I knew my deposit was on the line and would most likely loose it if I couldn’t close.
IT NEVER DAWNED ON ME that the builder could further persecute you for not buying the joint. I would have thought the deposit is payment enough.