The answers from the other posters really apply to if there was no breach of contract. If there was no breach, both parties must sign a Return of Escrow Deposit form before the earnest money can be returned. As noted by other posters, if there is disagreement on the return, then it must be reported.
If there was a breach of contract on your part, the earnest money may be taken as damages by the other party.
Realtors should avoid "hanging on to deposits" as that is illegal. Brokers can hold deposits in escrow account, but have no reason to do so since title companies do it. The number one violation of brokers is inaccurate reporting/handling of escrow deposits. My broker doesn't have escrow accounts. We have title companies hold all deposits.
Call me at 603-566-5460 and I will go to bat for you with the Broker who represented that transaction. When a deal falls through without it being your fault, you should get your deposit back As Soon As Possible--with "Possible" being the operative word. I will be available all morning--and will be at an open house in the afternoon over on Manasota Key.
This is a matter that should be taken up with the BROKER of the agent and or the Florida Real Estate Commission - Department of Professional Regulation - Division of Real Estate. There are many variables that could effect a decent answer.
What are the terms of the purchase agreement?
Typically, the deposit is released to the proper party within 48 hours of determining the rightful recipient. Has there been a Deposit Dispute initiated? Ask for a Release and Cancellation of Contract...
â‰ˆâ‰ˆâ‰ˆ Mott Marvin Kornicki, REALTORÂ® â‰ˆâ‰ˆâ‰ˆ
Aventura | Bal Harbour | Sunny Isles Beach
â‰ˆâ‰ˆâ‰ˆâ‰ˆâ‰ˆâ‰ˆ "â˜…â€This is the House â€œâ˜…" â‰ˆâ‰ˆâ‰ˆâ‰ˆâ‰ˆâ‰ˆ
Jason Stevens, REALTORÂ®, GRI, ABR
Graduate Realtor Institute
Accredited Buyers Representative
Real Estate Broker Associate
REOTrans Platinum Certified
Kevin Flynn Realty, Inc.
Cell - 941-662-0379
Home Office - 941-698-0973
Home Fax - 941-698-0973