Return of earnest money deposit

[Wesley W.]

Okay, folks.  I need your collective wisdom/input again.

Short version: Property under contract as buyer. We do structural inspection, find major issues, seller does not want to negotiate so we cancel contract under "inspection contingency." Seller refuses to sign Cancellation & Release letter so we can get our EMD back.

Other facts...seller does not have a realtor (used a third party vendor to put on MLS); money is being held in escrow by his attorney. Seller lives in FL (property is upstate NY).

My attorney says I am SOL.  He says the only way to get it back is to sue him in small claims court, which he says would have to be done in FL where he lives.  I can't even tie up the property and preclude him from entering into another contract, according to him.  My realtor says if he never signs, the money stays in attorney's escrow account "in perpetuity."

I find it hard to believe with all these attorneys/realtors attached to a transaction like this there isn't an easier mechanism to get my EMD returned.

Does anyone have any other way to get my money back?  I mean, why even have a contract if they are going to blatantly ignore it, yet have no real consequence.

Thanks in advance!

[Charlie Fitzgerald]

Send the Attorney a Demand Letter for the return of EMD. Give him 7 days to comply. If he does not, then weigh your options and costs to pursue it legally.