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Buying or Selling a Home/How can I retrieve my earnest money?

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Expert: - 9/14/2011


Question
It is approaching one year, and I still have not received the earnest money, which is due to me because; FHA will not approve this loan. Collateral: Low appraised value
The company went under and is now handled by another firm.

Answer
Assuming your earnest money is $7,500 or less, Sharon, I would take the "other firm" to small claims court. You most likely had a real estate agent handling the transaction at the time. Therefore, you might want to ask that agent's office manager for the refund and then take that broker to small claims court if you get no results. This is the best I can do for you, Sharon, since you have not given me much information with which to make any better suggestions. I do wish you well.

Dick Dennis
dixiedee13@aol.com

Buying or Selling a Home

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Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

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National Association of Realtors

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Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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