Seller refusing to return earnest money

Fri, 03 Jul 2009 18:15:00 GMT

I had an accepted offer on a house that ended up appraising for almost 30K less than the offer. The contract language specifically states that the earnest money will be returned without penalty if the house doesn't appraise.

The seller has accused the appraiser of being somehow crooked and in my pocket, so he is refusing to sign the cancellation of escrow. He has offered us a bunch of shady under the table deals to self finance the difference (as if I would buy a property right now for that much more than it's worth) and has begun legal action against the appraiser.

It has been six weeks since the appraisal and since we first sent the escrow cancellation and I still don't have my money back. The listing agent is now saying that they have no responsibility because he has taken the house off the market so they are no longer listing it for him.

If anyone has faced something like this before, or if anyone is a real estate attorney and can give me some advice on what to do about it, I would appreciate it.

13 replies

Why can't I go to an address and move around the neighborhood looking for homes for sale anymore?

Sat, 19 Sep 2009 18:15:00 GMT

Used to be able to move around a neighborhood looking for homes for sale. Why can't I do that anymore?

0 replies

We are interested in buying a forclosed home How do I get started? How do I look at these homes?Th

Tue, 18 Aug 2009 00:40:00 GMT

6 replies

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Seller refusing to return earnest money

Why can't I go to an address and move around the neighborhood looking for homes for sale anymore?

We are interested in buying a forclosed home How do I get started? How do I look at these homes?Th