My buyer is claiming fraud since the square footage is wrong based on appraisal that the buyer had ordered. He called and cancelled the escrow sicne the appraised value was 10k less than the contrcat price- 2 days before close. We had recieved a non refunbdable depoist of 15 K - from contract : "Buyers agree to release $15,000 to sellers, nonrefundable, as part of the purchase
price, 18 days after escrow is opened. Sellers agree to return said monies if this escrow
is cancelled due to a request and/or default of the sellers. Sellers agree to return said
monies within 10 days of said cancellation. Since we did not cancel are we in defuult based on Sq. footage calculation? NOTE: We have a older appraisal showing 200 sq footage more than the buyer current apprarsal. We are in process on getting a current one as well. NOTE: we also stated via an addendum to sell the proberty at the BUYER's appraise's value price- They decllined
price, 18 days after escrow is opened. Sellers agree to return said monies if this escrow
is cancelled due to a request and/or default of the sellers. Sellers agree to return said
monies within 10 days of said cancellation. Since we did not cancel are we in defuult based on Sq. footage calculation? NOTE: We have a older appraisal showing 200 sq footage more than the buyer current apprarsal. We are in process on getting a current one as well. NOTE: we also stated via an addendum to sell the proberty at the BUYER's appraise's value price- They decllined
