Posted by William Bronchick on February 18, 2002 at 23:20:12:
Cannot comment without readin the contract. If the buyer has a certain amt of time, then they are entitled to it. If the buyer has announced his intention to do nothing, then this would be an “anticipatory repudiation,” allowing the seller to cancel the contract. In fact the buyer’s failure to act in good faith to attempt to provide financials and inspect the property could be a reason for the seller to keep the earnest money.