Legal Question in Real Estate Law in New York
I put an offer in on a house and it was accepted here in Western New York State. The contract had a clause that I could cancel if the home inspection did not meet our standards. It failed miserably. How long does the other real estate company have the right to hold my earnest deposit before they have to return it to me. I already signed the paper that I wanted to cancel the contract due to failure of the home inspection and returned it to my agent. At first she said 3 days and it would be returned, but now she says the seller must sign off first. Can you help me with an answer please?
Asked on 8/28/09, 1:19 pm
1 Answer from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
The escrow agent should immediately be returning the deposit.
Mike.
Answered on 9/02/09, 1:43 pm
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