Posted by John Merchant on October 16, 2004 at 24:07:53:
In any P&S agreement your rights are (or should be) very specifically spelled out in that agreement.
So get out the P&S and read it and it’ll say (or should if you really knew how to do it right and professionally) just what your rights are and how to proceed.
This is precisely the reason a newbie desperately needs an experienced RE Agent to represent the Buyer’s interest in any RE deal, as he absolutely should not try to wing it alone, until he’s got some experience…and the Seller’s agent does NOT represent the Buyer.
If you screwed up and didn’t have a pro do the P&S for you, and it doesn’t clearly say what happens to the EM now that the deal’s gone sour, you now need a lawyer to untangle it for you.