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Updated over 4 years ago on . Most recent reply

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94
Posts
78
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Nathan H.
  • Real Estate Agent
  • Fort Collins, CO
78
Votes |
94
Posts

Seller won’t sign EM release

Nathan H.
  • Real Estate Agent
  • Fort Collins, CO
Posted

Hi BP community!

I’m looking to see what options I might have to get my EM back. 

I terminated the contract, 100% clean termination for a legit reason based on a contingency in a signed contract. The seller is totally unresponsive and it has been about 2 weeks since I terminated. The seller is a mess, they’re totally unorganized, going through a divorce and take a minimum of 3 days to respond to anything, so this isn’t super surprising. 

Any advice on getting the EM back, assuming I will not be able to get the seller to sign the release? I’m sure this varies from state to state. The property and all parties are in Colorado.

Thanks! 


Most Popular Reply

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43,078
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63,605
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,605
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43,078
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Originally posted by @Theresa Harris:

That's fine, but everyone reports to someone even brokers report to real estate boards.  If you want a legal solution, talk to a lawyer. (edited to add, not meaning to sound snarky)

ok this is not a board issue  or a broker issue.. this is a title company issue money is with the title company ONLY way its getting released is with both the seller and buyer signing release document.. other wise the title company will file an interpleader with the court and ask a judge for dispisition..  brokers have no authority over EM deposits that are lodged with a title company.. Just FYI.. 

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JLH Capital Partners

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