Most earnest money is held by real estate brokers. Whenever a licensed real estate firm or agent holds any earnest money, it must be deposited in a trust or escrow account until closing.
Please verify if your purchase contracts do not have a rescission (“cooling off”) period. The 19.3 paragraph from the contract doesn't give the right to hold earnest money.
According to the terms of the standard Offer to Purchase and Contract and the rules governing real estate brokers, if there is a dispute between buyer and the seller over an earnest money deposit, the broker must continue to hold the funds in trust until the dispute is resolved in writing or until a court decides the matter. For disputes less than $5000 you may bring the case in Small Claims Court - http://www.co.clark.nv.us/justicecourt_lv/smallclaim.htm
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