Legal Question in Real Estate Law in Florida

Escrow Deposit

We (buyers) signed a buying contract on 16 July 06.

After much neg. the sellers signed contract on 31 July 06.

We are using a VA loan which takes min of 40 days to process.

When we told this to our realtor on a conferance call with our

lender, our agent said she would contact the sellers agent to

inform them closing on 1 Sept could not happen due to lender

needing 40 days to process a VA loan. Sellers wanted to increase

purchase price to compansate for extra time needed to process loan.

We (buyers) said NO to this and we said this contract is over.

We also did not have full discloser at time of making

an offer or signing the contract. Our agent said that is was not

a big deal. As of today the sellers want us to sign a paper stating

that we release the sellers agent and our agent from all libility,

that the contract is terminated, and the Escrow will be address at

a latter time.

Is there anything I can do as the buyer to get my Escrow back?

A lot of things have gone wrong here. We are Military stationed

overseas and are first time home buyers. We feel as though we were taken

advantage of by our agent and sellers agent.


Asked on 8/15/06, 4:00 am

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Escrow Deposit

The escrow money should be returned (Bank or cahiers check only)at the same time as the termination documents are delivered.Younow seethe need to have competent counsel represent you.

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Answered on 8/15/06, 1:52 pm


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