Posts Tagged ‘Keeping Earnest Money’

Can I just keep the earnest money if a buyer backs out? (A recent Wisconsin Appellate Court decision gives us pause)

In an opinion that was issued last week the Wisconsin Appellate Court upheld a circuit court decision in which the plaintiff’s were not able to sue for actual damages in a failed residential real estate transaction because they did not return the earnest money to the buyer. The court ruled that they irrevocably elected liquidated [...]