Quote:
Originally Posted by Tacoman
This isn't necessarily true in Utah, I don't know what Kansas law is in this setting though. In Utah you would need buyers signatures to release funds if the money was held at a title company, but if it was held at a brokerage it would be a conversation between brokers. If the buyers broker (the agents boss) after reading contract came to the conclusion that his clients were the party in breech he/she could release the money without signatures from the buyers.
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That isn't the way it is in MO or KS. Both parties have to agree before EMD is released to either party. Furthermore, my guess is that BRC thought it would be a good idea to do this on his own without his own agents, brokers or lawyers involved, which is why he is asking a BB for advice on this.