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No Sir, I have not. I did have an investor cancel the contract on a short sale and request his deposit returned. He must have forgotten that he signed an addendum stating deposit would not be released prior to 90 days. I reminded him of that ... it was not contested ... it was contractual.
No...Being honest all the way through the process may be why.
No, but one deal that was recently canceled could have been contested IMO.
I have seen title companies sit on the fence, too afraid to make a decision. We provide clear instructions with the purhcase contract that should be followed in regards to earnest money.
Richie Alan Naggar author of books on Life-Love-Intimacy-Purpose Yes, it happened once to a client of mine. My client, the buyer did not get financing and the seller would not sign a release to give back the EMD. My company at the time holding the EMD released the funds and took on the responsibility.
Since this happened, my State has procedures in place to keep this from happening.
Well..in my opinion, (humble :) ) earnest money is not so earnest. In our state , and with current litigation atmosphere, clouded title is a two edge sword. And the release , non release , cancellations & causation and making whole is a realllly big bag of messy soup. Title/escrow is normally 99.99 on it. .but your still dealing with the "other side". Buyers get very very mad when the deposit isnt returned , and sellers likewise when a deal is canceled
Had a close call just recently but that is one of the reasons I think so highly of the title company we use.
No, I have had a local brokerage that held a refunded earnest money check for almost six months before it was cashed...