Comments on: I put $6,000 down in an escrow account with the insurance company on a home to purchase? Declined – No escrow? http://www.cbwahine.com/beach-realty/i-put-6000-down-in-an-escrow-account-with-the-insurance-company-on-a-home-to-purchase-declined-no-escrow/ Mon, 06 Feb 2012 16:19:59 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: realtor.sailor http://www.cbwahine.com/beach-realty/i-put-6000-down-in-an-escrow-account-with-the-insurance-company-on-a-home-to-purchase-declined-no-escrow/#comment-1769 realtor.sailor Thu, 18 Feb 2010 15:34:59 +0000 http://www.cbwahine.com/beach-realty/i-put-6000-down-in-an-escrow-account-with-the-insurance-company-on-a-home-to-purchase-declined-no-escrow#comment-1769 Presuming your contract was subject to financing and the denial letter arrived within the time specified in the contract, you're entitled to a refund of your deposit. The escrow agent is bound by law not to release the funds until both parties have signed a release. If you feel the Realtors are causing the delay, start with filing a complaint with the brokers and the local Realtor association. Unfortunately, you may have to take the seller to court if they won't sign. While you may feel the agents are to blame, I'll bet it's the seller. realtor.sailor<br><b>References : </b><br>I'm a Florida Realtor Presuming your contract was subject to financing and the denial letter arrived within the time specified in the contract, you’re entitled to a refund of your deposit. The escrow agent is bound by law not to release the funds until both parties have signed a release. If you feel the Realtors are causing the delay, start with filing a complaint with the brokers and the local Realtor association. Unfortunately, you may have to take the seller to court if they won’t sign. While you may feel the agents are to blame, I’ll bet it’s the seller.

realtor.sailor
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I’m a Florida Realtor

]]> By: golferwhoworks http://www.cbwahine.com/beach-realty/i-put-6000-down-in-an-escrow-account-with-the-insurance-company-on-a-home-to-purchase-declined-no-escrow/#comment-1768 golferwhoworks Thu, 18 Feb 2010 15:13:59 +0000 http://www.cbwahine.com/beach-realty/i-put-6000-down-in-an-escrow-account-with-the-insurance-company-on-a-home-to-purchase-declined-no-escrow#comment-1768 call your agents broker as almost every contract has an out for rejected financing. Were you no pre-approved for this purchase?<br><b>References : </b><br> call your agents broker as almost every contract has an out for rejected financing. Were you no pre-approved for this purchase?
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]]> By: Jim L http://www.cbwahine.com/beach-realty/i-put-6000-down-in-an-escrow-account-with-the-insurance-company-on-a-home-to-purchase-declined-no-escrow/#comment-1767 Jim L Thu, 18 Feb 2010 14:50:59 +0000 http://www.cbwahine.com/beach-realty/i-put-6000-down-in-an-escrow-account-with-the-insurance-company-on-a-home-to-purchase-declined-no-escrow#comment-1767 I think you would be well advised to get a lawyer. Make sure you are paying them hourly, not a % of the money they recover. This sounds like a case where one well-written letter on law firm letterhead will get your money back in short order. There is no legal reason for them to keep it. This should cost you $200 for a letter, another $100 or two if a follow up call is needed. Seems expensive but it will save you hours of work and lots of worry.<br><b>References : </b><br> I think you would be well advised to get a lawyer. Make sure you are paying them hourly, not a % of the money they recover. This sounds like a case where one well-written letter on law firm letterhead will get your money back in short order. There is no legal reason for them to keep it. This should cost you $200 for a letter, another $100 or two if a follow up call is needed. Seems expensive but it will save you hours of work and lots of worry.
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