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    gerlmike's Avatar
    gerlmike Posts: 1, Reputation: 1
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    #1

    Apr 21, 2014, 02:56 PM
    Earnest money deposit
    I have a signed and notarized purchase agreement. The buyer gave me $5,000.00 down, the balance is 45,000. If he backs out of the deal, do I get to keep the $5000.00?
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Apr 21, 2014, 04:08 PM
    What does the purchase agreement say?
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #3

    Apr 21, 2014, 05:37 PM
    That's normally how an earnest money agreement works. As ma0641 asked, what does it say?
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