AboutJohn Expertise I have studied Real Estate for over 7 years and my wife is a Realtor with Century 21. Need help with buying, selling, Landlord-Tenant, foreclosing, loans, or more? I can help you or show you where you can find the help. Wife has a web site with a lot of info on it for almost anyone.
Experience Over 7 years studying and wife is Realtor.
Education/Credentials Over 7 years studying and wife is Realtor.
Expert: John Date: 8/26/2008 Subject: return of deposit ..
Question in janurary of 2008 my realtor received a 2000.00 dollar deposit on a house i was selling . the buyer failed to get the mortgage because he misinformed the mortgage company about his employment record. i signed 2 more extentions which he tryed with 2 different mortgage companys and failed to get the mortgage .
in april of 2008 i sold the house to a different buyer .and my realitor said that the first buyer would have to sign a release to get the 2000.00 dollar deposit .during the 3 months wait i had to pay property taxes elec. water,gas. insurance ..anything you can tell me that would help me get the desposit would be appreicated.
thank you
charles slaughter
Answer IF I understand you right, you want to keep the deposit. If not, write back so I can correct my answer.
As the seller, you ever right to keep the deposit. Contact your Realtor to do this. And that is only if you did not sign the release.
Honest, I would just give the deposit back and forget about it and move on.
You said you found a 2nd buyer. Why hold up the sell with the 2nd buyer while you try to keep the deposit? To much delay may cancel the sell with the 2nd buyer.
And look at it this way. What if the first buyer never made an offer. And 3 months later the 2nd buyer came, as they did. You still would of had the same amount of bill cost over 3 months.
