A prospective purchaser of a residential property sends written notification to the listing broker documenting that she has been unable to secure financing according to the terms of the agreement and requests return of the earnest money deposit. the seller instructs the broker to retain the earnest money deposit as liquidated damages. the broker is legally authorized to

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05-03-2018
Business

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A prospective purchaser of a residential property sends written notification to the listing broker documenting that she has been unable to secure financing according to the terms of the agreement and requests return of the earnest money deposit. the seller instructs the broker to retain the earnest money deposit as liquidated damages. the broker is legally authorized to

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ahmedishaal ahmedishaal · Answer 1 · 2018-03-19T03:42:43+01:00

The broker is legally authorized to "return the deposit to the buyer".

A broker refers to a unique individual who arranges exchanges between a purchaser and a buyer for a commission when the arrangement is executed. A broker who likewise goes about as a merchant or as a purchaser turns into a vital gathering to the arrangement. Neither one of the roles ought to be mistaken for that of an operator, one who follows up for the benefit of a key gathering in an arrangement.