Allen Gero, Home Buyer in Parma, OH

If you pull your offer from a short sale, can you get your earnest money back?

Asked by Allen Gero, Parma, OH Thu Mar 24, 2011

short sale offer taken by seller but bank continues to sit on the offer and we have a lease and need to move out by June, can we resend the offer and get it released by the seller and get our ernest funds back....

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Since you are calling it an offer, and not a contract, it is obvious that there has been no agreement with the sellers bank and that is required in a short sale. If the bank has not agreed, and signed the offer, then you have no contract and you should not have even given your agent any money yet since you do not have a contract. Your agent should be able to just hand you back your check, I never deposit them until we have a signed and agreed contract with signatures from buyer, seller and bank. You or the bank can walk away at any time.
0 votes Thank Flag Link Thu Mar 24, 2011
As for getting your deposit money back--much will depend on your contract, therefore review the document as the answer can be found in it--what is your agent and or attorney advising...
0 votes Thank Flag Link Thu Mar 24, 2011
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