The particular arbitrator involved depends on the type of escrow holder that is holding the money. I am going to guess that your dispute was referred to the Florida Real Estate Commission (FREC) for an "Escrow Disbursement Order" (EDO). A special committee of FREC would gather information and documentation, hold a hearing, and decide who is entitled to the money. They will issue that Order to the escrow holder and that company/person would be obligated to follow the instructions of the FREC committee.
If you are working with a Florida Realtor on this transaction, your Realtor is responsible for educating you about the process, and helping you provide whatever information will be necessary for FREC to determine the proper disbursement of the funds.
I hope this helps!
Villa G Realty, Inc.
Give me a call for further guidance 786-704-8482.
Real Living FSR Surfside
If you did not use a Realtor, then the advice you received to contact a real estate attorney is sound.
Best of luck!
Chad Gray PA, Realtor
Luxury Living Fort Lauderdale
Coldwell Banker Residential Real Estate
100% of clients rated our service as "EXCELLENT"!
Best of luck.
Thanks for your question, and regret to learn of your problem.
Jacl, it all comes down to the contract written up by your Realto or lawyer and
Signed by you.
Was there a loan contingency period ? Did you file the right extensions ?
Also generally a Buyer gets Approved by a lender before making offers.
The issue is why was the loan denied, I.e. did it not appraise?
or did the property not pass FHA Conditions requirements such as Mold or
If we can know some more facts it will be helpful.
It appears you were likely buying a foreclosure or a probate property?
If you wrote the contract yourself or wrote the offer with the listing agent
And agreed to no loan contingency you may have an issue.
If you have an Agent or Lawyer, work with them.
Hopefully, it will all work out.
Anything to do with the State will take time.