There is no Florida law which ever dictated whether a buyer was entitled to the return of their deposit on a Short Sale transaction. I sounds like you got hooked into something very funky in the way of a short sale transaction and it is not a surpise that the agent who took your money on the short sale is no longer around. First of all, you should go to that agents broker and find out what the agent did with your deposit from the short sale transaction. You may need to make a complaint or hire an attorney depending upon how much money you have at stake.
The majority of short sale transactions do not require the buyer to put down escrow money until the short sale has actually been approved by the lender.
Both Buyers and Sellers will benefit from reviewing the detail explanation of what a short sale is and the 20 Things the Seller's Agent Does Not Tell You about Short Sales and Short Sale Fraud on my informative homepage.
I am well versed in both the Naples Board of REALTORSÂ® contract and the Florida Association of REALTORSÂ® contract.
I am licensed to sell real estate in Southwest Florida since 1981. Thatâ€™s 31 years! I have worked as a buyerâ€™s agent since 1993 and opened my own exclusive buyer broker firm in 1998.
I am friendly and easy to talk too.
Beverly Howe, CIPS, ABR, GRI, TRC
Florida Buyer Broker
Owner â€“ Exclusive Buyer Broker
1031 Exchange Specialist
Certified International Property Specialist
Accredited Buyerâ€™s Representative
Graduate of the REALTORÂ® Institute
Transnational Referral Certification
Local Direct: 239-601-2013
Toll Free: 1-800-283-7393
Cell phone: 239-269-2766... more
Provided there are no contractual issues, your escrow money should be refunded to you after you and the seller sign the Termination of Contract and Release of Escrow form. If you wrote an out of State check the escrow agent will have to wait until the check to clear before releasing the funds to you.
I am well versed in both the Naples Board of REALTORS contract and the Florida Association of REALTORS contract. I am available to assist you should you still have the desire to purchase a property. My expertise helps my buyers move from one transaction into another when necessary as smoothly as possible.
â€œThe most important thing a buyer can do is first of all work with a buyer broker.â€ As stated by AARP and the Consumer Federation of America from REALTORÂ® News.
There is no extra/hidden cost for you to obtain my Exclusive Buyer Broker services. In the State of Florida only a buyer broker can negotiate for the lowest price and best terms for the buyer. When you work with an Exclusive Buyer Broker, the brokerage firm does not list any homes, there is never a conflict of interest in your transaction. The State of Florida assumes that all buyers know all agents are transactions brokers who do not represent anyone one in the transaction and that the agents have very limited if any liability in the transaction. Unless, an agent or broker tells you they will represent you exclusively the agent is not required to disclose to you that they are a transaction agent or broker.
On my informative homepage www.FloridaBuyerBroker.com you will learn about:
The #1 Mistake Real Estate Buyers Make
21 Critical Mistakes Buyers Make
20 Things the Listing Agent Does Not Tell You about Short Sales
Short Sale Fraud
Foreclosures - the Wild West of Real Estate
Unrealistic Buyer Expectations
Link to the REALTORÂ® data base systems for Naples
A buyer broker is required to give the buyer loyalty, confidentiality, care and diligence, accounting, disclosure of all known pertinent facts and your financial status is protected.
I am licensed to sell real estate in Florida since 1981 and working exclusively with buyers since 1993.
I am friendly and easy to talk too.