[WSBARP] Residential P&S agreement ?

[Paul Neumiller]

I have a similar dispute and we are following the procedure set forth in RCW
64.04.220.



-----Original Message-----
From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Justin Monro
Sent: Thursday, March 10, 2016 5:33 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Residential P&S agreement ?

Listmates: property located in Snohomish county. One of my real estate
brokers represents sellers of property listed on nwmls. Buyers are
represented by another real estate agency. Mutual acceptance occurred at end
of January 2016. Buyers were obligated to close P&S transaction on March
8,2016, but failed to do so. No extensions were signed. The agent for buyers
has been very difficult to deal with. Buyers have financial funds to close
[cash] but chose to try and finance deal but failed to comply with terms of
financing addendum's. My clients [sellers] do not want to deal with buyers
anymore. Property was placed back on market as active listing to mitigate
sellers damages.

My question is: there is a significant amount of earnest money held in third
party escrow account. Sellers wants to retain earnest money as damages per
Form 21 P&S agreement. Buyers and buyers real estate agency are claiming
they want earnest money back from escrow. What are others doing in regards
to earnest money disputes? 
Interpled with court or arbitration? 


Thank you,

Justin K Monro 
Attorney at law

Sent from my iPhone

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