Home Buying in 91789>Question Details

Simon, Home Buyer in 91789

Can seller open another escrow without signing release of deposit from previous failed/cancelled escrow?

Asked by Simon, 91789 Sat May 30, 2009

I bought a house recently in CA but cancelled the contract and escrow within 17 days. The seller was upset and refusese to sign the release of deposit. I found out today the seller switched listing agent and re-list the house on the market as Active. I know the seller can resell the house but is it leagally for the seller to open another escrow w/o closing mine first? If not, how can I prevent the seller from doing that?

Thanks for you help.

Help the community by answering this question:

Answers

4
Lydia Nolan’s answer
There seems to me to be a gray area here. As an outside Realtor, stepping into a nest that two other Realtors do not seem to be dealing with, I'd have to carefully pull the strings apart and see what went wrong. Sorry you are having this problem.
0 votes Thank Flag Link Thu Aug 6, 2009
This is so unfair and it seems there is no protection for buyers at all. If the seller decides not to sign the release of deposit ever w/o any cause, the only option buyer has is to go throught the lengthy and expensive legal process to get his/her money back. And by that time, the house could be already long gone.
0 votes Thank Flag Link Sat May 30, 2009
Slee,
Yes the seller can open another escrow.
Since you and the seller cannot agree on the disbursement of the eescrow deposit, you can request that your escrow company interplead the funds with the court. Then escrow will turn over the funds to the court and a judge will determine who gets the money. However there will be some fees involved...

Good luck~~
Web Reference: http://www.tntdavis.com
0 votes Thank Flag Link Sat May 30, 2009
Yes it is legal. If you cancelled escrow while you still have contingencies in place, the Seller should have no right to keep your deposit. You may have to hire an attorney to get it back.
0 votes Thank Flag Link Sat May 30, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer