Legal Question in Real Estate Law in Illinois

escrowee holds on to earnest money check after inspection contingency failed

Signed to buy a house For Sale By Owner. Signed contract states inspection contingency -- had 7 business days after inspection to notify seller of dissatisfaction with inspection and get earnest money back on written notice by both parties to escrowee. Earnest money check made payable to seller's attorney as escrowee. Seller present at time of inspection and heard inspection summary report which was not clean. I called seller several times during the next few days leaving messages that I am not happy with the inspection report. My lawyer faxed several letters to the seller's lawyer asking for agreement on repairs or seller's written request for more time to think about it; otherwise return the earnest money -- all this happened within the specified 7 business days. I never received return calls from the seller. The seller's lawyer never responded back to my lawyer with yes, no, or maybe. It has now been a month and we have not received the physical earnest money check back. My lawyer's calls continue to be ignored by the seller's attorney (escrowee). The earnest money check remains uncashed. How long can the seller's attorney keep the uncashed check?


Asked on 6/26/03, 7:09 pm

1 Answer from Attorneys
Mary McDonagh McDonagh-Faherty Law Offices

Re: escrowee holds on to earnest money check after inspection contingency failed

#1 - your attorney should be answering these questions. #2 - the other attorney cannot keep your check AT ALL if you followed the contract correctly and notified them according to the contract.

Read more
Answered on 6/29/03, 11:24 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois