Legal Question in Real Estate Law in Pennsylvania

We had a property listed for sale. Prospective buyer made a $500 deposit. All paperwork was signed for the sale. Buyer backed out. Realtor does not want to give us 50% of the downpayment per the contract. Is she required to do so?


Asked on 1/04/11, 9:58 am

1 Answer from Attorneys

Miriam Jacobson Retired from practice of law

Release of the deposit is controlled by the agreement of sale/contract, and by the listing agreement you had with the Realtor. She may not be in a position to release the deposit if the buyer is not signing a release (you would also have to sign it). If the buyer and seller do not sign the release, the only way to release the deposit is to get a court order. The Realtor won't pay the cost to do that, so either the buyer or the seller has to.

You should also check the documents to find out why you would be entitled to only 50%.

This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

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Answered on 1/09/11, 10:59 am


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