When a contract terminates on inspection contingence, what is the procedure to get the money back from Escrow broker (Escrow Deposit)? Is this?

Asked by L Neik, 19711 Fri Nov 20, 2009

When a contract terminates on inspection contingence, what is the procedure to get the money back from Escrow broker (Escrow Deposit)? Is this transaction transparent to buyer and seller if one of the parties apply. Who one should contcat?

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Ron Templeman, , Middletown, DE
Fri Nov 20, 2009
Generally, the buyer iniates a release of contract, which the seller has to sign in order for the escrow funds to be released. If the seller refuses to sign, it depends on whether or not the arbitration section of the agreement has been signed. If not, the buyer goies to small claims court to get the "good faith deposit" back. Consult your Realtor and attorney.
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