Earnest Money Deposit Rules

Summary

In Ohio, failure to pay an earnest money deposit typically does not automatically void a purchase agreement unless the contract specifically states that it will. Review the terms of your purchase agreement and look for clauses related to earnest money deposits. Consult with a local real estate attorney for specifics.

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Lester
Hi Lester! How can I assist you with your legal issue today? Could you provide some details about your situation and your location if it's relevant?
In Ohio is failure to pay an earnest money deposit void a Purchase agreement?
Hi Lester! In Ohio, failure to pay an earnest money deposit typically does not automatically void a purchase agreement unless the contract specifically states that it will. Here are some general points:
- Review the terms of your purchase agreement.
- Look for clauses related to earnest money deposits.
- Consult with a local real estate attorney for specifics.
Is there a particular clause in your agreement you're concerned about?