Security Deposit not released

Discussion in 'Real Estate' started by Nikkie69, 8th Nov, 2006.

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  1. Nikkie69

    Nikkie69 New Member

    Joined:
    1st Jul, 2015
    Posts:
    3
    Location:
    LA
    I am a fairly new agent. My first transaciton was with family and I represented the seller. The buyer did not close escrow because the loan they initially qualified more had a condition on a pending job (they were rellocating). I talked to their loan officer and she was able to get them a sub-prime loan, but the buyers refused because their payment was to high. Long story short, we did not close escrow. Now they want their deposit back ($2000) and a contingency removal had already been signed. According to the Title Co. they can't release the funds without signatures from both buyer and seller. Any advice would be appreciated, I am in California. Thanks.
     
    Nikkie69, 8th Nov, 2006
    #1
  2. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    12,412
    Location:
    Sydney
    I'm not sure if there are too many people here who can help with your problem - this is primarily an Australian based forum, so there's not many people with experience in US real estate.
     
    Simon Hampel, 8th Nov, 2006
    #2
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