When BUYER Does NOT Perform | What Happens To EMD?

When BUYER Does NOT Perform | What Happens To EMD? #realestate #realestateinvesting #wholesalerealestate

There are times when a buyer does not perform and would back out of the deal. This situation becomes more frustrating when it happens in a city that requires mutual cancellation in order for the EMD to be released. To avoid future inconvenience, I suggest you call the title companies you work with to find out from them if, in the event that the buyer is in breach of contract and does not perform, they will require a mutual cancellation for the EMD to be released to you and if that is the case, ask them what verbiage you should add to your contract for that to be prevented. As much as possible, you don't want to breach your contract with your seller, so rather than focusing on fighting with your buyer, go get an extension on your inspection period that way you'd still have time to resell the deal.

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