Re: RE Agent wants to keep my deposit ! - Posted by JT-IN
Posted by JT-IN on September 14, 2003 at 15:23:39:
Assuming that you haven’t left out some crucial detail here, I would say that you are entitled to receive a refund of earnest monies in full. What I would do is to put in writing:
“Demand for Return of Earnest Money Depsoit”
List the details as briefly as possible, and state that if the deposit has not been returned within 72 hours of receipt of this letter, you will retain Legal Counsel and file a civil suit, with damages.
Send this letter certified, with a cc: to all parties involved; The Managing Broker of each Agent, and each Agent. Then if they do not repsond, then acquire an Atty to get matters straight for you. This shoudl be fairly straight forward, from what you say.
In most states, unless you waive your rights to the Earnest Money Deposit, which forfeits the deposit, they cannot actually keep the funds nad sell the house to another party. Hence, the whole time they are screwing around here over the deposit, the Sellers property is theoretically off the market until this is resolved.
You should be able to get a fairly quick solution on this one… stand tall on it.