Hawk v. Daugherty

McMurray, Judge.

This case involves a real estate transaction by and between the seller, a licensed real estate broker, and the purchaser. The purchase price was to have been $22,500 to be paid as follows: "Buyer shall pay $2,250.00 cash down payment and obtain a 30 year conventional loan for the balance of the purchase price.” The buyer paid $500 down as earnest money to the broker and then paid in escrow the sum of $2,000 additional earnest money. The purchaser also sought a $20,000 loan from a savings and loan association and upon refusal of the $20,000 loan (although there was approval for…