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 04:36:36 · 9 answers · asked by doctorslapnut 2 in Business & Finance ➔ Renting & Real Estate
Heres the funny part, my real estate agent quit after my deal fell thru and left the state, amazing friggin luck I have
2006-12-18 04:52:23 · update #1
Even though your real estate agent has left the state that agent worked for a broker. You should contact the brokerage firm that the agent worked for and through them to get your money back.
You might threatened to go to the courts which might start things to happen.
Saying that the real deal lies with how your real estate agent structured your contract. If it was structured in such a way that no matter what happened the seller would keep the deposit then you might be out of luck.
If it was structured that if the deal fell through for no fault of y our own then you have a fighting chance.
Go to the real estate board that the broker is signed up with explain your situation to them and tell them that you agent no longer is in the state and you are being stonewalled by the brokerage firm that the agent they use to work for.
You might also write a letter to the Secretary of State in which you live and complain about the escrow office and officer that are holding your funds. Be sure to alert all that are concerned before you take these actions, it might rattle their cage.
You have mentioned that you are no longer with a lawyer, there might be some public defenders that will take your case. Also you might call a lawyer and ask if he/she will take your case pro bono. They will understand the term. Keep calling lawyers until one say they will take it or give you a recommendation.
No matter the case, you might have to find a lawyer under any circumstance.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2006-12-18 05:05:28 · answer #1 · answered by Skip 6 · 2⤊ 0⤋
I've never encountered a situation where the condo board could deny someone from buying a condo, and don't know how that would work, so I will not address that. I did read your previous questions about the condo. HURRY up and get to your broker. No matter what happened to your Realtor, the brokerage is who is representing you. I say hurry, because when there is money sitting in escrow, typically both parties will request it from the escrow officer. If only one requests it, then the escrow officer tells the other party (maybe through the Realtor). If there is no response, the escrow officer is likely to release the money to the requesting party.
If your brokerage was notified of this, and dropped the ball, then you will have a claim against them - but maybe just letting the broker know about this unresolved situation left by that agent will be enough to get your money back.
2006-12-18 05:34:23 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
Was your real estate agent independent or did he work for a larger company. If he worked for a larger company, contact the boss of the branch your were dealing with. If he was independent, was he holding the money in his escrow? If yes, get a lawyer. You really need to start making phone calls, and if you don't get any satisfaction, get a lawyer.
2006-12-18 06:43:56 · answer #3 · answered by Kathleen M 4 · 0⤊ 0⤋
If you had a realator you were working with, I think they should be able to get it back for you, otherwise try working with the escrow company itself... I don't think they can legally withhold it for you if you weren't able to purchase the real estate.
2006-12-18 04:38:45 · answer #4 · answered by Lowa 5 · 0⤊ 0⤋
more likely than not you would have to go to court to get the money back
2006-12-18 04:39:05 · answer #5 · answered by onukpa 3 · 0⤊ 0⤋
Your Agent will be able to get it. Call them.
2006-12-18 04:43:12 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You need a lawyer.
2006-12-18 04:39:20 · answer #7 · answered by hillbilly 7 · 0⤊ 0⤋
Yahoo! answers is not the place to ask thisd at. Try a telophone and ask someone logical!
2006-12-18 04:38:46 · answer #8 · answered by Briddy 1 · 0⤊ 2⤋
better to go to court
2006-12-18 04:38:40 · answer #9 · answered by anis118030 5 · 0⤊ 0⤋