Title won't release earnest money
Just had a sale fall through because the seller did not sign on the contract date. My rate lock expired the day of closing and since the sellers were no shows, we decided not to purchase the property. As far as I understand it, the sellers breached the contract when they did not deliver possession on the day of closing.
Now the settlement agent (my agent picked them) is telling me she won't release my wire ($10K) until both parties have signed a contract release.
What is the point of a contract release signed by the seller if they're the ones who breached the contract? So if they won't sign this release, am I going to have to get an attorney?
Most Popular Reply
FREC can be contacted for an escrow disbursement order. Your agent's broker will have to contact FREC within 15 days of the dispute. You probably won't need an attorney, FREC will investigate the matter the decide who gets the escrow.
http://myfloridalicense.custhelp.com/app/answers/detail/a_id/1852/~/what-are-the-settlement-procedures-used-in-order-to-settle-conflicting-demands