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For sale by owner - price = $115,000. Buyer makes an offer and gives a $5,000 personal check to seller. 30 days later - buyer gives another $50,000 personal check. Seller did not deposit money in escrow (there wasn't any paperwork filled out saying that the money will be placed in escrow). Now buyer does not want the property, but seller already spent the $55,000. Buyer wants his money back but seller doesn't have it. How does the buyer get his money?
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