said by LowRider:The problem is the buyer still has to sign a paper "releasing" the deposit. The buyer doesn't want to lose $3000 so he won't sign the release and his agent can't release it without his consent. He can hold it until arbitration rules or a court rules. He already offered $2000 but we said no. Now his agent is going after him for $6000 because of the time and effort spent on getting him financing we he never completed.
i haven't heard that before about selling a house, what i do know is the deposit he left would be forefitted (you keep it), why waste the time and money on someone when you know your not going to get it. keep the 3000 and be done. But then again it does depend if he signed the papers and everything, but then agian most contracts give the buyer a certain amount of time to get out but they won't get there deposit back