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.

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.

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

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

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

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

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

No sir, not lately 

No recently, usually it comes during the inspection period. 

Not yet, how about you?

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

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

   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.

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.  

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.

I have not seen any

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!

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

No, thankfully.

Buyers remorse?  Not over that...

Over inspections?  Yes

Money back.

Eve

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

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...

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

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.

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 .

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

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. 

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....

Not that I can reminder

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

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.

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

No, thankfully.

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.

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.

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.

No.

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

not recently

Paul,

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

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