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refund of good faith monies, deposit

please help.  i had four closing dates scheduled and after the 4th closing date i chose to back out of the deal.  i am requesting my deposit to be returned to me plus the money i used to have the house treated for termites and beatles, as required by my mortgage company.  the present seller will not have the monies returned to me.  remax the sellers company will not return the money.  is this legal?
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August 08 2013 - Slatington
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Answers (4)

It all depends on the terms in your contract. Why were closing pushed back? What does your contract state regarding cancellations? Every deal is completely different and the escrow company will release funds according to the contract. Both parties must agree on disperssing funds in order for escrow to release. If your agent can't get this money released, you may need to speak with an attorney.

Good luck!
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August 08 2013
Both parties have to agree to mutual rescission of the contract for the contract to be cancelled. If the sellers are refusing, or if they are within their contractual rights to keep the earnest money, Remax wouldn't be legally able to release the funds. While they're holding the money in escrow, they can't release the funds without consent of the seller.
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August 08 2013
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Whether or not you can get your good faith money back depends on the contract you had with the seller.   Did you meet all conditions of the purchase contract, such as mortgage commitment by the agreed upon date?  Other actions by the agreed upon dates?  

Review your contract with your agent, and then the next step is a real estate attorney.

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August 08 2013
It's quite doubtful any "termite or beetle" money will be returned to you, since the work you requested was done by the extermination company. We cannot really answer this, since we do not know the circumstances of the delayed close of escrow. Please do read the contract you signed. If you do not understand it, your Buyer Agent will explain it. IF you do not have a Buyer Representative you will need to speak to a lawyer at this poing.
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August 08 2013
 
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