Home Buying in 86442>Question Details

eunkim007, Home Seller in Los Angeles, CA

can escrow release the buyer's escrow deposit funds without seller's authorization?

Asked by eunkim007, Los Angeles, CA Fri Nov 30, 2012

If escrow already release the funds then what should seller do?

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Answers

4
You will find that a Title Company requires 2 signatures to do anything.
0 votes Thank Flag Link Fri Nov 30, 2012
NO, ERNEST MONEY BELONGS TO SELLER
0 votes Thank Flag Link Fri Nov 30, 2012
If the buyer is requesting the earnest money back during the inspection period the title company should release the money. If you are well into the transaction and are trying to pull out towards the end of the deal the seller has to authorize the releasing of the funds. If you are pulling out for a reason that is not in the contract the seller doesn't have to return the earnest money. It just depends on the scenario. You should call your agent and they should be able to answer your questions.
0 votes Thank Flag Link Fri Nov 30, 2012
Depending on the language in your contract and why you are canceling escrow yes possibly. That is def a question for your Realtor if you have one. If not call your escrow officer. If you aren't working with an agent and you are going to continue looking for a different home view my website at http://www.searchhomesinkingmanaz.com and feel free to contact me with any questions.
0 votes Thank Flag Link Fri Nov 30, 2012
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