Agent

Sellers object to paying $500 security deposit

Buyers want to ensure no damage upon move-in, but are hush-hush on refund
Published on May 19, 2008

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by CareyBot

DEAR BENNY: I am a seller with a $620,000 home in Oregon. As part of the inspection addendum, the buyers are demanding that we put down a $500 security deposit with the title company, refundable if there is no damage to the home between now and move out. Our home is in superb condition. I assume that the refund of our money would be based on the buyers' subjective opinion, since they included no specifics of how they would determine if we would receive the money back.

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