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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
In your reply below you state:
"The seller did not sign and return the sale contract yet.
Wells Fargo needs this document and want it before the closing."
I am not an attorney but in NY If the seller does not sign the contract and deliver it to you or your attorney you do not have a deal. You should be entitled to your deposit because you don't have a contract with the seller. The seller may have changed their mind about selling or they may have found another buyer that made a higher offer.
A contract of sale is more than a necessary document it is the basis of the transaction. Without a fully executed contract there is NO transaction.
Lic Assoc RE Broker
When requesting a refund, do it in writing and site your reason. If the earnest money is held at a title company, deliver the demand letter to them as well.
This definitely sounds like something that the Attorneys need to work out.
Unfortunately as a good attorney once told me "A n Attorney is only as good as their client," so you must push your attorney to get the answers you need from the other side. I know you are probably paying your attorney handsomely, so do not be afraid to call regularly to push!
He/she is working on your behalf and even though there is a lot of activity right now and I am sure they have a lot of closings on their plate, it is their job to make sure that you are informed of what is going on, how it might effect you, and what your rights are.
Chris is right. As Agents and Brokers, we cannot advise on what is a legal matter. This is something you must discuss with your attorney and if for some reason you do not have one, you should retain one.
WEICHERT, REALTORS - House & Home
609 Kappock Street Suite 1A Bronx, NY 10463
(718) 432-5000 (Office)
(917) 974-2600 (Cell)
- the seller gave me a time of the essence closing date, which is Monday, July 22nd 2013 (next monday)
- my loan contingency time has passed
- I provide all the documents necessary to close, I'm ready
- the seller still did not provided all the necessary documents that my bank requested and he has to provide it before the closing date
The seller doesn't want to extend the closing date but at the same time is delaying the process by not furnishing all required documents
What can I do? Can I get my earnest money deposit back since it's not my fault if we can't close on the time of the essence date?
Thank you very much for your answers. Since I have to close next monday I'm just desperate.