[WSBARP] Earnest Money Deposit Issue

[David Faber]

List:

I'm representing the PR of an estate for a decedent who was under contract
for the sale of real property here in Jefferson County at the time of
death. When Buyer (B) was informed that seller had died, B signed and
transmitted a MLS form 51 Rescission Agreement attempting to beg out of the
PSA and for the refund of the earnest money deposit. I was, quite frankly,
surprised to see B try to rescind considering the closing date on the PSA
is not until later June and there was no notification to B that the estate
would be unable to close the transaction as the successor-in-interest to
the decedent. PR now want to boot B out of the transaction but keep the
earnest money deposit as liquidated damages under the theory that B
signing the rescission agreement is sufficient to indicate that B intends
to fail without cause to close the transaction. Either way, PR is quite
annoyed by B for rushing to exit the PSA when their father died.

I am unable to find case law on point here and wondering if anyone has any
thoughts or would be willing to discuss this issue with me?

Best,
David J. Faber
Faber Feinson PLLC
210 Polk Street, Suite 1
Port Townsend, WA 98368
(360) 379-4110
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