Home Buying in Cincinnati>Question Details

jdantonio, Home Buyer in Mason, OH

real estate company in Cincinnati keep earnest money due seller after their client/ buyer refuses to appear at closing. Buyer breeches contract. Help!

Asked by jdantonio, Mason, OH Mon Nov 4, 2013

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6
Now, in addition to the great advise provided by the three Ohio agents who have responded you really, really, really need to turn your inquiry towards the real estate professional your hired.
Your Realtor will know EXACTLY what needs to be done, how to start it and who does it.
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Don't complicate things by going rogue.

Best regards,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, Fl
727.420.4041
Move to the Front of the Line (http://FirstLookHomes.us)
0 votes Thank Flag Link Tue Nov 5, 2013
Under Ohio law, there are basically three (3) ways earnest money can be returned: closing (apparently this is not going to happen), a written release signed by both parties or a court order (a binding arbitration award would work as well); without any one of these, the real estate company cannot release the earnest money to either party. Consult with your agent or an attorney.
0 votes Thank Flag Link Tue Nov 5, 2013
Take a look at your listing agreement, does it say the broker keeps the earnest money? What does your agent say? I agree with Dan as well, you may need an attorney to review the contract and if there is a dispute and your listing agent/broker is a Realtor, seek out arbitration with the local board of Realtors.
0 votes Thank Flag Link Tue Nov 5, 2013
Earnest Money disputes may be handled through Arbitration at the Convinnati Area Board of Realtors. Contact Cindy Henninger there at 761-8800 for more info.
0 votes Thank Flag Link Tue Nov 5, 2013
JD,
I agree with Dan, you're going to need an attorney. They will have to review your contracts, know the appropriate Real Estate Law in OH. Any answers we provide beyond this will be assuming more than we can know.
0 votes Thank Flag Link Mon Nov 4, 2013
Contact a local real estate attorney.
Web Reference: http://www.dan.danberry.com
0 votes Thank Flag Link Mon Nov 4, 2013
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