![]() While this article focuses on residential real estate transactions, this scenario is also prevalent in failed commercial real estate transactions. This article will explore the typical scenario surrounding a failed real estate purchase and who gets the binder deposit. On the other hand, the seller wants to keep the binder deposit. On the one hand, the buyer wants the binder deposit returned. Unfortunately, when the contract fails to close (for various reasons), there is oftentimes a dispute over who is entitled to the binder deposit. When two parties enter into a contract for the purchase and sale of real property, the buyer typically provides an initial deposit, commonly referred to as a binder deposit. ![]() Real Estate Development, Sales & Leasing.Community Advocacy & Social Responsibility.Search Website Submit SearchSearch Close Search
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