Earnest check was never deposited - Seller won't sign mutual releaseA week ago, on Sunday, Nov. 17, a seller accepted our offer on his home via our agent and his agent (both licensed agents at FC Tucker). However, since we live out of state, and we were using an electronic signature document service, according to our agent, there were still some "missing signatures." On Tuesday, morning at 9 a.m. we paid for a home inspection. At 1 p.m. we had a meeting with a mortgage lender and discovered we could not be financed. Immediately following that meeting, I alerted our agent and said we needed to cancel the agreement based on our ineligibility of financing. On, Wednesday, our agent sent us a mutual release form, which we immediately (electronically) signed and returned. Throughout this period the seller and his agent continued to market the home, even on the day we had it inspected (Our agent told us that it was never listed as "pending" or removed from the market). And, in fact, on Thursday -- four days after the offer acceptance, two days after we gave everyone notice of the financing issue, one day after we submitted the release form; they began marketing an Open-House that is occurring today - Nov. 24. Additionally, our earnest $ check was never deposited due to the fact that we never had a fully executed agreement.Here is the problem: Despite all of the above, our agent is telling us that our earnest money check cannot be given back until the seller signs the mutual release form...and, he is refusing to do that. However, my understanding of Indiana's real estate law is that since our check was not deposited within two banking days (due to the "missing signatures"), it should be voided and sent back to us, regardless of whether or not the seller signs a release document.Is my understanding of the law incorrect? How should we proceed? We hate the fact that our personal check is floating around on someone's desk right now.November 24 2013 - Indianapolis00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.