That said, assuming you did sign escrow docs allowing for advance of your funds, when that property is sold again to a different Buyer, you should receive your $650 from escrow when they deduct it from the new Buyer. I would send a letter to escrow notifying them that you expect your funds as son as possible. Just a last word.... if that property never sells, or becomes a foreclosure, your money is GONE!
A lesson to everyone - remove any language from the escrow instructions that allows Buyer's funds to be used / advanced for Seller costs.
Best of luck,
Broker / Owner
Your agent SHOULD have told you of the possibility for such fees to be dinged against your deposit. Or, he or she could have instructed escrow to not make such expenditures until you were ready to remove all the contingencies. Did you pay for a home inspection? Same principle applies.
Perhaps your agent will reimburse you if you end up buying a different property from them.
I've done this before. You need to put into the cancellation to get your full deposit back and have the seller pay that amoubt to escrow so you get the full deposit back . Or. When there is a new buyer to get them to sign an addendum that escrow can reimburse you for the HOA fees
The first one is better
The buyer MAY recoup the fees IF the seller deposits funds into escrow to reimburse the buyer. If the seller realizes they are responsible for payment and they are able to use the documents for the subsequent escrow you may get it back.
Hope this helps!
A few questions before I can give a good answer without speculating
What city are you buying in?
Next is this a standard sale or short sale? If it is then you can stay on top of the property with your agent to see when it sells and goes into escrow and have the new buyer sign a document and seller that they agree to release the $650. To give back to Kelly ----- from previous escrow for items of escrow fee and HOA fee.
I have done this and it works since they have mont in escrow to work with
The seller could agree to put money In Escrow.
The only money escrow would ever have is the buyers deposit
The agents below hit on some of the things you can do as well
Talk to you Soon
Ingrid Ski Realtor
Sorry and good luck,
No, our agent never informed us of anything and he kept saying we would get the full amount back.
We never signed any of the escrow paperwork nor had the home appraised.