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Rainmaker
4,117,815
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Fortunately not, Paul. In NC, you can unilaterally pull out of a contract for any or no reason as a buyer during your due diligence period and just risk your due diligence fee. However once the due diligence period expires then you are in breach of contract and will not get your earnest money back.

Feb 17, 2018 05:50 AM
Rainmaker
577,189
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

Once a transaction if a firm sale, and all conditions have been removed, and teh Buyers fail to close, they will not get their deposit back, and it would be valid ground for the Seller to sue for failure to close.

Feb 17, 2018 05:44 AM
Rainmaker
3,331,517
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Yes and they did get it back as they used the inspection contingency to do so.

Feb 17, 2018 05:27 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I haven't experienced that but I deal with investors who put at least 20% down so they are a different animal.

Feb 17, 2018 05:36 AM
Rainmaker
1,921,264
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I have not Paul S. Henderson, REALTOR®,CRS, 

Feb 17, 2018 04:59 AM
Rainmaker
3,069,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

So far 100% of remorseful Buyers who failed to close on our listings have left the building WITHOUT their Earnest Money!

Feb 17, 2018 04:55 AM
Rainmaker
4,210,471
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Remorse comes at a cost unless they have some type of out do to a contingency!

Feb 17, 2018 05:56 AM
Rainmaker
3,616,999
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

No sir, not lately 

Feb 17, 2018 04:45 AM
Ambassador
2,074,337
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

No recently, usually it comes during the inspection period. 

Feb 17, 2018 04:44 AM
Rainmaker
1,889,443
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Not yet, how about you?

Feb 17, 2018 02:42 AM
Ambassador
5,409,020
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Part of an agents job is to manage and prevent this from tanking the sale.

Feb 17, 2018 02:25 AM
Ambassador
3,056,010
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I have not.  Buyers are elated that they finally got their offer accepted and can move into their home.

Feb 17, 2018 07:54 AM
Ambassador
2,570,797
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   Not in a long time.  Once the contingency periods are over, they are going to either have to beg the seller, or get a lawyer, if they want the EMD back.

Feb 17, 2018 07:19 AM
Rainmaker
526,533
Dee Toohey
Innovative Realty Solutions Group - Longwood, FL
Broker, ABR, AHWD, CIPS, FMS, ePro

If that happens, I have them seek legal counsel to explain what could happen if they breach the contract.  I also have them read that section in the contract.  In the end, it's up to them but they need to understand the possible actions if they don't close.  

Feb 17, 2018 06:08 AM
Rainmaker
888,997
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Buyers are so well protected in Florida that nearly the only they they lose their money is to concede it to the seller due to a convicted conscience.

Feb 17, 2018 05:48 AM
Rainmaker
3,985,875
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have not seen any

Feb 16, 2018 10:47 PM
Ambassador
4,257,463
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

It depends - if it's during the Due Diligence period, yes, they get their Earnest Money Deposit back but, not their Due Diligence fee. After that, it's gone!

Feb 17, 2018 10:47 AM
Rainmaker
1,519,141
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

They always can get their money if their contingencies were not removed or waved. 

Feb 17, 2018 10:20 AM
Rainmaker
6,607,638
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

No, thankfully.

Feb 17, 2018 09:38 AM
Rainmaker
611,146
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Buyers remorse?  Not over that...

Over inspections?  Yes

Money back.

Eve

Feb 17, 2018 09:26 AM
Rainmaker
1,387,193
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No.  Never had buyer's remorse (knock on wood).

Feb 17, 2018 09:20 AM
Rainmaker
710,004
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Never happened to me. I handle all my clients accordingly. We have many due diligence provisions with different time periods to go through in our AZ contracts, and by the time buyers go through them all, there are no more excuses. By that time the EM is non- refundable - that alone is a motivator to move along with it.

Note to the wiser. If you are a listing agent, and you are suspicious of the buyer, I write contracts with the release to the seller of non-refundable EM way before close of escrow...

Feb 17, 2018 09:00 AM
Rainmaker
542,909
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

No Buyers remorse lately, avoid EMD whenever possible to eliminate disputes over it.

Feb 17, 2018 08:23 AM
Rainmaker
1,230,144
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Nope, I haven't had that since the short sale days. The last 7 years have been remorse-free as I do my best to test the resolve of my buyers from showings to offer. I can usually shake them loose before we submit, if there's any hesitations. I've had 5 deals fall out over seller/buyer impasse in request for repairs or appraisal...too far apart...in the last 7 years though.

Feb 17, 2018 08:03 AM
Rainmaker
292,535
Jack Lewitz
Exit Strategy Realty - Evanston, IL

I have not had one lately but did have a buyer flip out before she received her loan commitment and she did get her EM back but it was held for awhile by selling office .

Feb 17, 2018 07:55 AM
Rainmaker
1,736,488
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I can't recall any buyer's remorse deep into the transaction.  I can only remember one time I got a call the next day saying they changed their mind.  There is more to that story too.  Maybe I'll write a blog post about it.  LOL

Feb 17, 2018 07:42 AM
Rainmaker
684,615
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I remember one couple bailing before closing. It was on a short sale I worked on for 4+ months & we were days away from closing. Basically they said that they broke up & couldn't close on the house. They elaborated that they were having problems before they got into the deal & that the house was supposed to bring them closer but the stress of the transaction was too much. They added that they are now living in seperate rentals. 

What's puzzling is that the lines of communication were open with their agent throughout the transaction. I'm good at keeping the buyers in the loop on short sales so we exchanged weekly updates & there was no mention of any of this.

Within 60 days I got the short sale approval reissued & the deal closed with another buyer.

To answer your question EVERYONE gets their money back here. I know that's not what's supposed to happen but when I've pushed for the seller to keep the money, the seller's attorney has always recommended against it, even in clear cut cases. Truth is I've only seen one person bail & lose their money so make those offers & bail whenever you want- no one here's going to pursue you. 

Feb 17, 2018 06:50 AM
Rainmaker
5,571,923
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I can't remember when one of our listing deals experienced that.... and if it did, it was not just before closing!!! it was before the inspection period....

Feb 17, 2018 06:14 AM
Rainmaker
1,231,599
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Not that I can reminder

Feb 17, 2018 06:13 AM
Rainmaker
2,641,762
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Not too much remorse. On refunds, it could go either way. Depends

Feb 17, 2018 05:43 AM
Rainmaker
4,938,825
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

CO state contracts are written for the buyer and all their outs are purely subjective.   Before the loan objection they can and get their EM back.

Feb 20, 2018 10:55 AM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Buyers mostly use the home inspection contingency to get out of the contract and the earnest money is refundable under that clause.

Feb 18, 2018 07:59 PM
Rainmaker
666,078
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

No, thankfully.

Feb 18, 2018 07:42 PM
Rainmaker
910,921
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Buyer’ remorse is not among the contingencies that will allow a buyer to cancel and expect to get a return of EMD.

Having said that, I have experienced a buyer cancellation in which a minor and fixable condition of the house was cited that probably was, in reality, buyer’s remorse.

Feb 18, 2018 09:12 AM
Rainmaker
583,990
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Not for a few years.  Buyers need to know what their rights are about cancelling--and that there are consequenses if they change their minds at the last minute.

Feb 18, 2018 09:10 AM
Rainmaker
1,153,675
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

The sooner you complete the transaction the less after thoughts are.

I had one who released all the contigiencies wanted to back out. The seller took his EMD. It dragged on too long with lender claiming he wanted to wait until the interest rate is lower.

Feb 18, 2018 07:42 AM
Rainmaker
4,799,501
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have.  They get it back if they back out within the contractual dates, otherwise, they don't.

Feb 18, 2018 05:43 AM
Rainmaker
4,433,703
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Feb 18, 2018 03:43 AM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Paul S. Henderson, REALTOR®,CRS, - yes, one recently! And yes, they did.

Feb 17, 2018 10:33 PM
Rainmaker
2,024,000
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

not recently

Feb 17, 2018 08:51 AM
Rainmaker
5,587,461
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Paul,

No, and the earnest money does/ or does not go back according  to how the contract is written. A

Feb 17, 2018 07:00 AM
Rainmaker
1,459,527
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Paul S. Henderson, REALTOR®,CRS, I have never had this happen. A very good reason to get a hefty EMD if it does.

Feb 17, 2018 06:53 AM