Earnest Money (ESCROW) Deposit
What happens to my earnest money deposit if we do not complete the sale?
“If for some reason the sale is not completed, your earnest money deposit really represents the security for that transaction. So you have to ask yourself, ‘Whose fault was it why the transaction didn’t close?’ If it was any fault of the buyer or the buyer’s representatives, then that escrow deposit may be at risk to being lost. If it was the seller’s fault or the seller’s representatives the reason why the closing did not happen, then in most cases, you as a buyer are going to get your security deposit back.”
