Is it the norm for a realtor to keep half the earnest money
by
Terry Smith
+4
Is it the norm for a realtor to keep half the earnest money if the deal falls thru
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Yes
Yes if it is in a contract.
I never knew that. Doesn't seem fair to the seller, since they are already paying the realtor a fee.
No I have never done that and we have sold or bought 4 houses. If a realtor told us that we would find a different realtor.
I wouldnt think so Ask the peeople who is holding it. Sounds like a rip off.
NO! Unless it states so in the contract.
http://www.realtor.com/advice/buy/here-are-3-times-when-can-kiss-your-earnest-money-goodbye/
http://www.realtor.com/advice/buy/reasons-to-get-your-earnest-money-back/
http://www.realtor.com/advice/buy/get-earnest-money-deposit-back/
https://www.zillow.com/advice-thread/Do-realtors-ever-get-part-of-forfeited-earnest-money/491518/
Was is in the contract that you signed?