The answer to your question depends on who is holding the escrow. Is it a title company, attorney or a real estate company?
Because title companies are not regulated by FREC, it is much easier to get your deposit monies returned.
Notwithstanding who's holding escrow, I would consult a real estate attorney and have them send a letter to the owner demanding a release of for the deposit be signed and threatning legal action.
This may be all it takes for them to take you serious.
Best of luck!
As realtors we are not allowed to provide legal advise to buyers or sellers. What we can do is offer suggestions to you on helping you navigate through this mess. This is a clear case in which you will have no choice but to contact a real estate attorney to review the contract that was executed and he/she can then advise you of what your rights are under the contract. Depending on how your contract was written and who holds the escrow deposit that will allow your attorney to guide you on what the steps are in your specific situation. I do have a real estate attorney that I work with that I can suggest for you, please feel free to contact me and I can forward that information to you.
RE/MAX Advance Realty
Additional information is needed,
If the Florida purchase contract is similar to the Texas contract, then the title company may not require seller consent to refund your earnest money when the property fails to appraise at the sales price.
Check the contract. In TX, the contract has a provision in section 4-A-1) Financing: that requires the property to satisfy lenders underwriting requirments "including appraisal" or buyer "may terminate contract and earnest money will be refunded."
If your contract was based on cash (and it doesn't sound like it was,) you may need to have an attorney prepare a demand letter, but first, call the title company to inquire - get your agent involved as your advocate (s/he already should be if you ask me....)