I put a deposit down on a house a few months ago. The inspection went poorly and we requested a cancellation of contract and return of the deposit. The realtor won't return the deposit but is giving me no reason!

What do I do?

And so is the ethics of it all! There was nothing in the contract that stated it was non-refundable so I am confused! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!

Menu Icon Click to open Mobile Menu. Buy Rent Mortgage Sell Find an Agent For Professionals Local Scoop More Trulia Blogs All Trulia Neighborhood Guides Go Mobile with Trulia Advice Ask a Question Help Center For Professionals. Realtor not returning my deposit? Highest rated Recent Oldest. Wendy Perez , Agent, Gales Ferry, CT. Sat Aug 16, No one can return your deposit to you unless the Seller allows it or a Judge orders it.

Glossary

First question to ask is whether or not the Seller signed the Release of Deposit and Liability. Is the house back on the market?

If no Release is signed, you still have an interest in the property. Wed Jul 15, Lisa DiTullio , Agent, Southington, CT. Nadia, Is this Agent representing the seller also? In any case you are entitled legally to a refund of your deposit.

If you get nowhere with this I would have your attorney call the Real Estate Board in which the contract was written.. They will help you Lisa Milo-Ditullio Realtor--Centurion Producer Century 21 Access America N. I called and was told they do not take complaints from consumers. Carl Guild , Agent, East Hampton, CT. Tue Jul 14, I would not give them a week or two. They should be able to give you an answer much quicker than that.

How to Protect Your Earnest Money Deposit

If you rescinded your contract within the bounds stated within the contract, then your due your deposit back within a few days.. You need to pull out your copy of the contract and read exactly what it says under the "Inspection Contingency Section" That is what you signed; that is what you agreed to. Tell your agent exactly what the contract says, and that your due back your deposit.

If they still refuse, then tell them you will be filing a complaint with the Department of Consumer Protection which handles all the licensing for Real Estate Practitioners in CT.. You should get a response quite quickly Oh, please don't give it much longer.

If you do, there may be a loop-hole that the seller could turn it around and say you are in default. Nadia , Home Buyer, We completed the home inspection and then asked to rescind based on the results. The realtor is being vague as well as the broker on why we have not received our money back. They claim the seller just has not signed the document terminating the agreement.

I cannot tell if or why they are stalling or if the Realtor is full of you-know-what. I will give it another week or two I think and if nothing comes of it I will look into filing a complaint. I really appreciate the advice. Nadia I noticed you are from Groton. Is the home you were buying in Eastern CT? If so, you probably did the standard purchase and sale we use here. Were all the inspections you initialed yes, performed within the time limit? Did your agent get the required response to the other agent within the time limit?

Did you sign the Mutual Cancellation request and have the seller sign it also? Keep in mind, I am not an attorney, but I am a Realtor and cover New London County. With that said, these are the details based upon what you said that I could see you not being able to get your deposit back.

How much is the attorney charging you to handle this? What is your agent's response? If everything was handled properly, then you can go directly to the agent's broker boss or to Eastern CT Association of Realtors ECAR. I hope some of the information you have received is helpful. Unfortunately, it's really hard to give you specific advice based upon what you've written.

I wish you all the best with getting this settled quickly. Robin Cavallaro Weichert Realtors, Suburban Properties 80 Stonington Road Mystic, CT Direct: Caroline York , Agent, St Petersburg, FL. It sounds like you have waited long enough.

This money was held in escrow and someone should WANT to give it back. The only reason they wouldn't would be if you told them to hold it while you are still looking. In some states you can apply the deposit to another contract if it is held in escrow.

But ask Connecticut Realtors Association by going to the website I listed above. You'll get quick answers. Dan Ross , Agent, Southington, CT. Nadia, In addition to what Linda and Linda said below, if you still get no response from the agent's broker, call the board of Realtors for your area and file a complaint. Nadia, When you completed the inspection you should have completed a form that states that you are cancelling the contract due to items uncovered during the inspection.

In addition you should have signed an earnest money release form indicating that the inspection contingency has not been fulfilled and that you are cancelling the contract and as such as due your earnest money. If you have not received these documents you need to contact your agent's broker. If the broker does not return you call or explain the reason the earnest money is not being returned you need to contact the state agency that handles Real Estate Licensing.

Hi Nadia, Did you perform your physical inspection and provide written notice of cancellation within your contract contingencies dates. If so then you should contact the Broker of the Lisings Agency not the Realtor. If you were working with a buyer-broker contract your agent should be contacting the listing firm's Broker. Nadia, If your attorney, who is representing you is telling is telling you it is not big deal, you need a new attorney. Have you spoken to the realtor's broker?

Is a Earnest Money Deposit refundable? | Zillow

And is it a realtor or a real estate agent? There is a difference. Was there an Actual Cancellation and Mutual Release signed by both parties?

A little more information would be helpful in assisting you. I recently withdrew my home from the MLS from a previous realtor that I had that was absolutely horrible.

Interested buyer's realtor is not returning our listing agent's phone call? Naples realtors not returning my phone calls - unbelievable! Luxury condo listings, near beach.

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