I have money sitting in escrow from a real estate deal that fell thru. I was denied by the co-op board... How do I go about getting it back? I have no lawyer anymore. How long can money sit in escrow? Is there anyway the seller can try to steal it from me? If I wanted to get it back does it have to go to court?
2006-12-18 04:07:52 · 2 answers · asked by doctorslapnut 2 in Business & Finance ➔ Renting & Real Estate
Just send a cancellation notice to the escrow company. I hope you are still within your "Buyer investigation of property" contingency period. If you are, it should be easy. If not, then still ask for it. Tell the seller through you agent the truth. In the future, try to stay away from those co-ops. They have too many restrictions and it's hard to finance them. Get a condo instead.
2006-12-18 17:49:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Once the deal fell through you should be able to get it back right away assuming it was not an earnest money deposit. If it was an earnest money deposit you may not be able to depending on the terms of your offer to purchase the property.
Easiest way is to talk to the person you gave the money to and ask for it back.
2006-12-18 13:13:17 · answer #2 · answered by Jim7368 3 · 0⤊ 0⤋