Earnest Money deposit question - Florida

[Kirsten Mastro]

Hello everyone.

I am in the process of selling my first real estate property and I am making a go of doing a fsbo.  I have a question and I'm hoping some of you seasoned investors can help me out.

I had the deal under contract and the buyer pulled out for a bogus reason (didn't get his funding, never kept me informed, sent a text saying he would prefer to find something new, falling out with his agent, blah blah).  My attorney (and me) believe I am entitled to the earnest deposit.   But- surprise surprise he says he's broke and can't afford it.  I mention that his agent has the money already in escrow to which he informs me that she never deposited the check.   Before I call her I would like to gather my facts.

1)  Isn't she required to deposit the check within X days? I think its 3 in Florida.

2)  Do I have recourse against her or her broker if this wasn't done?

3) On a scale of 1-10, how dumb was I not to have my title company hold the deposit.  (don't answer that please)

4) On a scale of 1-10 how dumb was I to only get $1000 earnest deposit?    For this small amount is it worth pursuing.   Right now I want to for principle.  I feel that they took advantage blatantly.  And of course since it was many newbie mistakes on my part its a little embarrassing.

Thanks for any advice!!

[Joe Villeneuve]

Q) Isn't she required to deposit the check within X days? I think its 3 in Florida.
A)  I'll leave this one to a Fla investor to answer, but Depositing the check, and giving the check to whoever is holding the check in escrow is the same thing.

Q) Do I have recourse against her or her broker if this wasn't done?
A) Don't think so. Unless there were instructions in the offer stating otherwise, handing the EMD to the buyers agent is fine.

Q) On a scale of 1-10, how dumb was I not to have my title company hold the deposit. (don't answer that please).  
A) OK, I won't answer...but if I were to answer, not that dumb.  Happens all the time.

Q) On a scale of 1-10 how dumb was I to only get $1000 earnest deposit? For this small amount is it worth pursuing.
A) No...and No. I never pay more than $1000 in EMD.

Q) Right now I want to for principle. 
A) You mean "emotion".  Leave emotions at the door (the back door).  Move on.