Industry News

Advice for the Rookie Realtor

'Deposit confiscation an unsavory topic'

Re: 'Rookie Realtor's first deal collapses' (June 7) Dear Rookie: Maybe they want out because you were just too good at closing them. Now, they stand to lose $5,000 because they have second thoughts. I think it is interesting that you would try to save them the title company legitimate charges (they probably got a preliminary title report and paid someone to do it) but have some other idea on the deposit. Also, the title company is the one that will have to handle the issue of releasing the deposit to someone–now, you think you can persuade them to do it for free, but want them to get the money for your seller. Perhaps you should consider paying the $5,000 for your buyers, as it seems really a shame that the first people you put under contract are threatened with losing $5,000. How much time was there between signing the contract and wanting to back out of the deal? Buyers get out of contracts all the time in the first couple of weeks. That's why there are all those ...