You should get your deposit back. If the REALTOR can prove that he or she has earn their coommision they might accept the deposit in lue. This is very rear but there are buyer that just like to ride (deceptively).
Everyone else brought up the same questions I'd be asking you. If you think you are entitled to the return of your deposit, ask your Realtor for it. If they refuse, speak with their office manager. If you still get a "no" ask them to show you and explain why you're not entitled to receive the funds back.
Nikki,
Somewhere in here I read that some agents were taking a fee up front as buyers agents, that may have been what you were paying.
Did you go to an agent that also did mortgages, such as Lynn 911 , you may have given the money for mortgage work, many brokers will not return this money.
A Realtor can not take money on a home until you decide which home you are purchasing. We so not put your earnest money in an escrow account, we take it to the title company so should know which home first.
What does your receipt say the money is for?
Please give us some more to work with and maybe we can help.
Margaret
Possibly....we need more info. It depends on what the deposit was for and what you were getting in return for the deposit. If it was actually for a specific home, but you did not sign a contract, I'd think you could get it back. Who was the check made to: agent, builder, title co, brokerage? Was it for a specific house? What is the deposit amount?
Was this an escrow deposit to accompany a contract offer on a property? Was the check made out to the Broker? If you give us more details we can possibly help.
This is a legal question. If you ask that the agent return your deposit and the agent refuses, you should consult with an attorney.
Nikki,
Are you saying that you made an offer on a home verbally and gave an earnest money deposit to your realtor to hold until you have a signed offer? If so, then no, based on what you said, in the state of Texas, a contract for real estate is not binding unless it's in writing. AND, if you had a written contract , it can be voided at any time prior to you learning that it was accepted by the other party.
To protect your rights, communicate with your realtor that you want to withdraw your verbal offer. Do this in writing via email, and also call them to tell them the same thing. Document when you made the call and who you talked to.
Good luck,
Jeffrey
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