how long can an escrow company have before returning escrow deposit from offer to purchase hwen the reason is valid?

Asked by J Miller, Riviera Beach, FL Thu Jul 26, 2012

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Ron Thomas, Agent, Fresno, CA
Thu Jul 26, 2012
The Escrow company works bi-laterally, for the Seller and the Buyer; that's YOU!
In order for them to refund your deposit, they need a written request from you, agreed to buy the Seller:
Have you done that?
Has the Bank signed it?
Have you asked the Title Company?
0 votes
Tammy Hayes, Agent, Port Charlotte, FL
Thu Jul 26, 2012
Buyer and seller need to sign a Release and Cancellation of contract. At the bottom of that form it tells the Escrow Agent how to disburse funds. Once they receive that, they usually return it within a week if not sooner.

Tammy Hayes, Realtor
Green Lion Realty, Port Charlotte, FL
tammyhayesre@gmail.com
0 votes
Scott Godzyk, Agent, Manchester, NH
Thu Jul 26, 2012
Each state has its own law , here in NH it is 30 days for instance. The release needs to be in wirting and signed by all parties. if you had a contincy such as inspection or mortgage and they failed, provide your proof of a decline or failed inspection. Your agent should easily guide you, if you were buying without one, check with your state real estate commission or a lawyer to review your contract and situation. good luck working things out
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