Home Buying in 19711>Question Details

L Neik, Home Buyer in 19711

Home is back on market. Neither Seller/Seller agent refunded the deposit nor asked to sign the reaase form. (Delaware state)

Asked by L Neik, 19711 Sun Nov 22, 2009

Home is back on market. Neither Seller/Seller agent refunded the deposit nor asked buyer to sign the rlease form to buyer. Where is release form?

How can seller put back the house on market without completing the transaction? How many days does it take to get back the deposit?. Is it nuyer agent holding the release form or the money? (No reply). Contract was terminated on inspection contigency?

Seller agent/ Buyer agent work for the same Real estae at two different locations. Should buyer contact Broker/Manager of the Listing Agent?

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For court information, go to http://www.state.de.us and click on Courts at top of page.
0 votes Thank Flag Link Sun Nov 22, 2009
assuming the deposit was held in escrow by broker and assuming you had all the clauses that are in our standard contract and assuming you are no longer represented by that agency...
I like Jacq. Roark, answer to your question...
I would add, the courts in Delaware will help you determine who is in breach of contract and determine who gets money...
I like Jim Woods, Esq. 302-235-5770 he is a good real estate attorney.
I wish better results with your next offer...
Kai
0 votes Thank Flag Link Sun Nov 22, 2009
You wrote:

"once a contract is "out of contract", seller can put home back on market." that means seller agent received the termination letter through buyer agent - that's good.

That may/may not be the case. Out of contract just means contract dates have not been met. As James said the only person who has all the answers is your buyer's agent. Did buyer sign Release Agreement?

You have to go to the court that handles that zip code. Again, contact buyer's agent for information.

Hope this helps.
0 votes Thank Flag Link Sun Nov 22, 2009
You need to call your buyer agent to get answers. This is the person representing you they should have your answers.
Web Reference: http://www.Find1Home.com
0 votes Thank Flag Link Sun Nov 22, 2009
J,

This seems like the neverending transaction (and some can be), but the bottom line is the buyer's agent should complete the Release Agreement to send to the seller's agent for the seller to sign. The seller can elect not to sign the form in which case, the buyer has to go to court to get his deposit back. As long as buyer/buyer's agent worked within contract dates, there should be no problem getting the deposit back. FYI - once a deposit is put in escrow, all parties have to sign to have it released, broker cannot release deposit without that signed agreement. Some sellers will not sign, but like I said, buyer will have to take it to court.

Also, once a contract is "out of contract", seller can put home back on market.
0 votes Thank Flag Link Sun Nov 22, 2009
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