Home Buying in 30093>Question Details

patrickforums, Home Owner in Norcross, GA

The check for earnest money when I bought my house was never cashed. The seller claims I owe him $1,000. What are my options?

Asked by patrickforums, Norcross, GA Thu Feb 21, 2013

The settlement was almost 3 years ago. The check was for $1,000. There were no real estate agents involved.

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Scott Godzyk’s answer
The key is who did you pay the deposit to. Was it the seller or their attorney? Why did the closing attorney not include this in your closing? You may need to check with them and see if there is a statute of limitations. The seller may have to prve you knew the check wasnt cashed and said nothing. Good luck working it out
0 votes Thank Flag Link Fri Feb 22, 2013
I think if the money was credited to the Buyer in the HUD then the Seller is owed that money. Unless there is a statute of limitations. The attorney that conducted the closing should be the best person to ask.
0 votes Thank Flag Link Fri Feb 22, 2013
This is a most curious question......one that brings to mind a number of questions.

Was this a FSBO?
Who does your purchase agreement state is holding the money?
Is the deposit amount included on your HUD statement?
Why is this becoming an issue 3 years after the fact?

The HUD is an account of all funds involved in a transaction that should clarify the presence of your deposite money relative to this transaction.

I find it difficult to believe that this could happen when involving licensed agents and professional closing personnel....but then anything is possible!

0 votes Thank Flag Link Fri Feb 22, 2013
Interesting scenario. Rodney provided a good answer, but am curious. Who was holding the EM? What does your Closing paperwork show? Please call, text or email if we can provide further assistance. Good Luck!

Michael Hammond





0 votes Thank Flag Link Fri Feb 22, 2013
You would probably need to consult with the closing attorney that performed your closing.
0 votes Thank Flag Link Thu Feb 21, 2013
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