Legal Question in Real Estate Law in Florida
Escrow-Good Faith Deposit
What can I do to make Keyes Company release my good faith deposit of $4500.00? A loan was not granted from the bank and the sellers will not sign a release form that is required from Keyes to release my good faith deposit.
2 Answers from Attorneys
Re: Escrow-Good Faith Deposit
Look at any original contract you signed regarding the purchase of the property. The contract may set forth what would be a good faith attempt to obtain a mortgage.
These situations are looked at on a case by case basis, so if you wish to discuss this further, please feel free to send me a e-mail with more details regarding the transaction.
Re: Escrow-Good Faith Deposit
When there is a dispute between buyer and seller the broker must arrange to place the proceeds in escrow and submit the dispute to FREC. You may need legal representation. Good luck.
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