I just received this update from the California Association of Realtors. This is good news for buyers. "NONREFUNDABLE DEPOSIT DEEMED INVALID An agreement for a "nonrefundable" escrow deposit is invalid and unenforceable, according to the recent California case of Kuish v. Smith (2010 WL 373225). This case serves as a good reminder for REALTORS® that inserting a "nonrefundable deposit" provision into a...
