Looks like a poor job on the part of the Listing Broker and Escrow company.
Listing agent should have verified Buyer's funds and structured the contract so the Seller would obtain the deposit in the event the Buyer fell through.
In the standard CA real estate contract, there are several types of contingency removals and not all of them put the Buyer's deposit at risk. A good listing agent will know which contingency removal to use to protect their Seller.
I'm surprised how escrow could even open without deposited funds. What exactly did the escrow company hold in escrow from the Buyer?
Listing agent should have verified Buyer's funds and structured the contract so the Seller would obtain the deposit in the event the Buyer fell through.
In the standard CA real estate contract, there are several types of contingency removals and not all of them put the Buyer's deposit at risk. A good listing agent will know which contingency removal to use to protect their Seller.
I'm surprised how escrow could even open without deposited funds. What exactly did the escrow company hold in escrow from the Buyer?

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