What should someone do if the seller of land refuses to return deposit.?
Their atty cannot get in touch with them to get seller's ok to return depost. Land was found out to be unbuildable and we requested our deposit back 3 weeks ago?
It really depends on the condition/reason they are keeping the deposit. Did the buyer back out of the agreement? Did the buyer not meet the contingency dates? There are various reasons a seller would keep a deposit and in rare cases they have a right to keep it. I hope you had a written contract and had an attorney overseeing the contract. If not, get one and let them advise you. Good Luck!
Ask an attorney for legal advice
Clair F Bee III
Keller Williams Realty Capital District
Http://www.ClairFBee.com
518-724-5870
NYS LICENSED SALES ASSOCIATE
A very typical situation. Your attorney should a letter of demand to the listing broker if that is who is holding it.
According to our Code of Ethics, Realtors may NOT give legal advice. Please seek this information from your attorney.
Unfortunately you may have to file a lawsuit. You can also lien the land.
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