I put an offer to purchase with $1,000 earnest money on a house going into foreclosure. Contract stated it

Asked by Linda Wirth, Aurora, IL Thu Feb 19, 2009

needed approval of bank holding loan. After 4 months we never received approval and contract had expired. Selling broker will not return my Earnest Money. According to the contingency we never had an accepted contract. How do I get my money back???

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4
Dan Firks De…, Agent, Naperville, IL
Thu Feb 19, 2009
Brian Hanlon is my main attorney.. I'm sure he would be able to discuss your options. Please call me at 630.637.9009 if you would like his #.

Sorry to hear your having problems with this. Did you use an agent when you wrote the offer?

DF
Web Reference:  http://www.danfirks.com
1 vote
Don McComb, Agent, Lake Geneva, WI
Thu Aug 27, 2009
It is hard to answer your question without more information. If it is a Short Sale, 4 month is not necessarily all that long. Did you personally make an application for approval at the bank holding the mortgage? If you included the bank approval at the time of the offer, your Realtor should be able to obtain status information from the listing Realtor and/or the mortgage company. Additionally, your attorney should be able to find the status and persue your earnest money. If your contract to purchase included a "drop dead" clause or date, you should have fewer problems.
0 votes
Dallas Texas, Agent, Dallas, TN
Thu Feb 19, 2009
Speak direct with your realtor, if not represented contact listing agent broker.

If you have an executed contract terms and conditions regards buyers and seller performance. WOW 4 months is a longggggggggggggggg time.

Is the money in title? If yes contact title company requires buyer/seller amendment release money .

Confer with attorney

If you have further issues contact State file a formal complaint ONLY if you are in the "right for return of money"
Web Reference:  http://www.lynn911.com
0 votes
Christine Mi…, Agent, North Potomac, MD
Thu Feb 19, 2009
Your realtor should advise you to talk to an attorney
0 votes
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