How can I get my escrow funds returned if I cancelled the purchasecontract during the inspection period?

I was the buyer in a FL real estate contract using FARBAR forms. I cancelled the contract during the inspection period per the contract terms. The broker/realtor (who represented both parties) promptly facilitated the execution of the “release and cancellation of contract” which included the “disbursement of escrow funds” clause. He gave this to the seller’s law firm (who has the escrow), and said I would receive the money shortly. After 10 days he was surprised I had not received my funds and said he would follow up. It’s now day 15, I have not heard back and he will not return my calls.

Asked on September 11, 2011 under Real Estate Law, Florida

Answers:

J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Good evening and thank you for posting to our site. I hope to point you in the right direction. Let me begin by saying I am sorry you are having these problems. I would suggest if you have an attorney who is handling your purchase have them deal directly with the sellers attorney to handle this matter. If you have not yet hired an attorney I would suggest doing so. At this point if no one will respond to you and you have not gotten the deposit back the best step is going to be to have an attorney contact them to show you will not be taken advantage of if that is their intention. And as you will need an attorney for the closing as well it will be a good time to get this handled. Good luck


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