You are representing the buyer. And the buyer has discovered some grand problem that the seller will not deal with. Perhaps its the roof, maybe its the foundation, or maybe its the criminal element in the neighborhood.
No matter what it is, there are plenty of circumstances in which a buyer plans to cancel the sale.
So what do you do when the seller WILL NOT agree to sign the cancellation form? And won’t release the deposit back to the buyer? Are you stuck? Is the buyer trapped in a no-win situation? Surprisingly, NO you are not out of options yet.
Your buyer DOES have a chance to see his or her deposit money returned by following a clause found in the RPA.
Its known as section 14-H of the RPA. And this video explains how to make use of that clause.
J. Samuel Ross wants you to be a better Realtor, no matter what company you work for. Although, we would love to see you sell homes through our brokerage. Real assistance is here when you truly need it.