Can a real estate agent take earnest money if your loan fell through?
My sister was trying to purchase a home. With the recent changes in credit scores, her loan didn’t go through. Now the real estate agent has been telling her she has to sign a release of the money because the seller has a right to it to cover the cost of repairs. He said if she doesn’t, they can sue because she backed out of the contract.
She didn’t though. Her loan didn’t go through! Please advise.