Legal Question in Real Estate Law in New Hampshire
Refund of Deposit on Property
I signed a P&S agreement, with a $500 deposit, contingency being the sale of my current property. 3 weeks later, the owner called and asked if we would consent to releasing our agreement, as he had another buyer. We verbally consented, requesting our deposit be returned. It is stated in the contract, was stated verbally, and during followup calls, that they would issue a refunded check. That was 3 months ago. Any thoughts?
2 Answers from Attorneys
Re: Refund of Deposit on Property
You need to send a demand letter for the return of the deposit based upon the release of the P&S by Seller. This is why Buyers and Seller should have attorneys.
Generally, however, it is a good idea to have such agreements completed in writing.
If you have an additional question, please feel free to contact me.
Re: Refund of Deposit on Property
I trust that you have made a written demand for the refund. If there is a broker involved, I suggest talking with the owner of the agency too. Beyond that, you may need to file a suit in Small Claims Court.
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