Legal Question in Real Estate Law in Texas
Escrow Money
My husband and I were trying to purchase a house. We put the requested $300 in an escrow account as earnest money. The contract clearly states that the earnest money will be returned should my husband and I not buy the house for reasons beyond our control.
Well, we couldn't secure financing. We immediately notified the sellers of this and withdrew our offer. Now, the sellers are refusing to sign the release for our earnest money.
They will not give me a reason for not releasing the money and they themselves do not have access to it unless I release it to them. What options do I have?
1 Answer from Attorneys
Re: Escrow Money
You may want to remind them that they cannot sell their house to anyone else without a signed release of contract from you. Your other recourse is through small claims court.
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