Good Faith Deposits

Non-Refundable Deposit Deemed Invalid in California

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...

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