Expert: Dick Dennis - 8/20/2006

Question
Dennis,
Thanks for the quick response. I did not know I had any recourse or action I could take against the Title Company. I am being told they have they right to choose in their absolute discretion where the deposit goes. I have called an attorney about making an appointment. Do you know how I go about getting the title company to pay my attorney fees? I assume my attorney will know. Thanks again, Frank in AZ

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Followup To

Question -
I am/was purchasing a home. After my home inspection and 3 days prior to closing I did my final walkthrough. The night prior we had a local rain storm that caused severe damage to the home I am/was buying because the roof leaked. I agreed to continue buying the home if the home was put back into the original condition and the seller agreed. The seller hired a non-licensed repairman to do the work and only covered the problem with paint and drywall mud (the damaged seams). The drywall in these areas was brown from water damage and not replaced. The repairs were not done the way they should have been or the way I felt we had agreed they were to be done. My Title Company is telling me I am not going to get my security deposit back because the seller is showing receipts for work completed. What do I do to get out of these problems and get my security deposit back? Thanks, Frank in AZ

Answer -
If you read the purchase agreement, it does say that if any damage is done to the property via nature or otherwise, the seller has the option of putting the property back in the same condition as it was. If he refuses or does a shabby job, the buyer has the right to pull out and get the deposit back. If that title company is telling you what they told you, I strongly suggest you engage a REAL ESTATE attorney. Watch how fast you get your money back when that happens. And make sure the title company reimburses your attorney costs.

I do wish you well.

Dick Dennis          dixiedee13@aol.com

Answer
That's right. The attorney will know as long as he is a real estate attorney. NO title company has the right to keep your deposit UNLESS the other party refuses to sign any release of your deposit. Then THAT is the person you have to sue or take to small claims court if the deposit is less than $7,500.

Take care.

Dick Dennis