Home Buying in Groton>Question Details

Nadia, Home Buyer in 06340

Realtor not returning my deposit?

Asked by Nadia, 06340 Tue Jul 14, 2009

I put a deposit down on a house a few months ago. The inspection went poorly and we requested a cancellation of contract and return of the deposit. The realtor won't return the deposit but is giving me no reason! What do I do? He doesnt seem to even be responding to my attorney and the attorney is calling it "no big deal" because to him it is not a lot of money ($500). For me, someone who has been saving for this for years, $500 is a big deal! And so is the ethics of it all! There was nothing in the contract that stated it was non-refundable so I am confused! Please Help~

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Answers

12
No one can return your deposit to you unless the Seller allows it or a Judge orders it. First question to ask is whether or not the Seller signed the Release of Deposit and Liability. Is the house back on the market? If no Release is signed, you still have an interest in the property. Good luck.
0 votes Thank Flag Link Sat Aug 16, 2014
Contact the local Board of Realtors and the broker who oversees the agent
0 votes Thank Flag Link Wed Jul 15, 2009
Nadia,
Is this Agent representing the seller also? In any case you are entitled legally to a refund of your deposit. If you get nowhere with this I would have your attorney call the Real Estate Board in which the contract was written.. They will help you...

Good Luck...

Lisa Milo-Ditullio
Realtor--Centurion Producer
Century 21 Access America
117 N. Main St.
Southington, Ct. 06489
lisa.ditullio@gmail.com
860-621-8378 x1445

http://www.c21accessamerica.com
http://www.lisaditullio.point2agent.com
http://www.linkedin.com/in/lisaditullio123
0 votes Thank Flag Link Wed Jul 15, 2009
No, they won't. I called and was told they do not take complaints from consumers.
Flag Thu Jan 9, 2014
I would not give them a week or two. They should be able to give you an answer much quicker than that. If you rescinded your contract within the bounds stated within the contract, then your due your deposit back within a few days.. You need to pull out your copy of the contract and read exactly what it says under the "Inspection Contingency Section" That is what you signed; that is what you agreed to. Tell your agent exactly what the contract says, and that your due back your deposit. If they still refuse, then tell them you will be filing a complaint with the Department of Consumer Protection which handles all the licensing for Real Estate Practitioners in CT.. You should get a response quite quickly...
Web Reference: http://www.carlguild.com
0 votes Thank Flag Link Tue Jul 14, 2009
Oh, please don't give it much longer. If you do, there may be a loop-hole that the seller could turn it around and say you are in default.
0 votes Thank Flag Link Tue Jul 14, 2009
We completed the home inspection and then asked to rescind based on the results. The realtor is being vague as well as the broker on why we have not received our money back. They claim the seller just has not signed the document terminating the agreement. I cannot tell if or why they are stalling or if the Realtor is full of you-know-what. I will give it another week or two I think and if nothing comes of it I will look into filing a complaint. I really appreciate the advice.
0 votes Thank Flag Link Tue Jul 14, 2009
Nadia

I noticed you are from Groton. Is the home you were buying in Eastern CT? If so, you probably did the standard purchase and sale we use here. Were all the inspections you initialed yes, performed within the time limit? Did your agent get the required response to the other agent within the time limit? Did you sign the Mutual Cancellation request and have the seller sign it also? Keep in mind, I am not an attorney, but I am a Realtor and cover New London County. With that said, these are the details based upon what you said that I could see you not being able to get your deposit back. How much is the attorney charging you to handle this? You could very well be obligated for more than $500 at this point. What is your agent's response? If everything was handled properly, then you can go directly to the agent's broker (boss) or to Eastern CT Association of Realtors (ECAR).

I hope some of the information you have received is helpful. Unfortunately, it's really hard to give you specific advice based upon what you've written.

I wish you all the best with getting this settled quickly.

Robin Cavallaro
Weichert Realtors, Suburban Properties
80 Stonington Road
Mystic, CT 06355
Direct: 860-705-4433
0 votes Thank Flag Link Tue Jul 14, 2009
It sounds like you have waited long enough. Go to http://www.CTRealtors.com and find out who you should contact to get your money back. It is obvious that your agent and his/her broker is not doing what they should. This money was held in escrow and someone should WANT to give it back. The only reason they wouldn't would be if you told them to hold it while you are still looking. In some states you can apply the deposit to another contract if it is held in escrow. But ask Connecticut Realtors Association by going to the website I listed above. You'll get quick answers.
0 votes Thank Flag Link Tue Jul 14, 2009
Nadia,
In addition to what Linda and Linda said below, if you still get no response from the agent's broker, call the board of Realtors for your area and file a complaint.
0 votes Thank Flag Link Tue Jul 14, 2009
Nadia,
When you completed the inspection you should have completed a form that states that you are cancelling the contract due to items uncovered during the inspection. In addition you should have signed an earnest money release form indicating that the inspection contingency has not been fulfilled and that you are cancelling the contract and as such as due your earnest money. If you have not received these documents you need to contact your agent's broker. If the broker does not return you call or explain the reason the earnest money is not being returned you need to contact the state agency that handles Real Estate Licensing.

I would also cancel the agreement you have with the attorney, as the attorney fees will probably total $500 in not time flat.
0 votes Thank Flag Link Tue Jul 14, 2009
Hi Nadia,
Did you perform your physical inspection and provide written notice of cancellation within your contract contingencies dates. If so then you should contact the Broker of the Lisings Agency not the Realtor. If you were working with a buyer-broker contract your agent should be contacting the listing firm's Broker. Hope that helps. Good Luck!

Linda Lang-Bankowski, Broker-REALTOR
CDPE~CRS~GRI~ABR~ASP~CSP~SRES~AHWD~ePro
Quinnipiac Realty, LLC
Cell (203) 619-4377 eFax (203) 306-3155
Linda@QuinnRe.com http://www.QuinnRe.com
31 Quinnipiac Avenue~North Haven~CT~06473
(203) 624-3000 Ext. 701 Fax (203) 624-3001
~Licensed in Connecticut~
Web Reference: http://www.QuinnRe.com
0 votes Thank Flag Link Tue Jul 14, 2009
Nadia,

If your attorney, who is representing you is telling is telling you it is not big deal, you need a new attorney.

Have you spoken to the realtor's broker? And is it a realtor or a real estate agent? There is a difference.

Was there an Actual Cancellation and Mutual Release signed by both parties?

A little more information would be helpful in assisting you.

Linda
0 votes Thank Flag Link Tue Jul 14, 2009
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