Conflicting demands for earnest money deposit? Do all you can to stay neutral
It has happened to you before. For one of numerous reasons, a party breaches and a transaction does not close. You notify the parties and forward cancellation documents. In response, the buyer and the seller make conflicting demands to release the earnest money deposit from the escrow account.After you request that both the buyer and the seller agree to an escrow instruction to disburse in one way or another, they will not do so. Worse, both sides intensify their demands with calls to management and threats of litigation.