Keyes Co. v. Spencer

SHAHOOD, GEORGE A., Senior Judge.

Appellant, The Keyes Company, was the Real Estate Broker and the holder of a $25,000 earnest money deposit in a contract for Purchase and Sale of real estate. Appellee and cross-appellant, Anne Marie Spencer, was the buyer under the contract. Patricia DiGiacomo was the seller. When the contract failed to close, both the buyer and the seller claimed the deposit money, and appellant asserted that it was entitled to deduct a Broker’s commission from those funds. As the holder of the deposit, appellant exercised its contractual option to file an arbitration action…