Wesley_IHB
New member
A property I opened escrow on kept having issues after issues with the latest problem about water heater not complying with city/county code. Since this property is not ready for a sale as evident in the water heater issue, it's not worth to spend more time & effort on it as there may be more problems from it being a rental property. The renters didn't move out until a couple days ago.
Now the sellers are advising escrow to release the deposit to them since they say we signed liquidated damages on the Purchase Agreement. I haven't signed contingency removal & according to item 14C2 on the purchase agreement (Continuation of Contingency), it should be a simple cancellation with buyer deposit remaining intact. My realtor prepared document showing that my deposit should return to us accordingly.
Anyone here has any knowledge on this matter?
Thanks!
Now the sellers are advising escrow to release the deposit to them since they say we signed liquidated damages on the Purchase Agreement. I haven't signed contingency removal & according to item 14C2 on the purchase agreement (Continuation of Contingency), it should be a simple cancellation with buyer deposit remaining intact. My realtor prepared document showing that my deposit should return to us accordingly.
Anyone here has any knowledge on this matter?
Thanks!