Legal Question in Real Estate Law in North Carolina
Can't get earnest money back
My wife and I were under contract to sell our house to another couple. A week before closing the husband got a job transfer so they cancelled the contract on our house. But the real estate agents involved didn't get their signatures releasing the earnest money to us, and now they can't locate them. They tell us they can't release the money without a signature from them.
It's been almost 6 months, what do we need to do to get the money. Our agent told us if we take it to court that if the court can't locate the couple the court may refuse to release it. Can't we hold the agent responsible for not doing their job and getting the proper signatures upon the termination of the contract? What are our options?
1 Answer from Attorneys
Re: Can't get earnest money back
You absolutely have an action against the real estate agent and his/her company. The agent has a duty to protect your interests and clearly has failed to do so. Pursue it immediately. I would imagine the funds would either be released immediately, or the agency will write you their own check.
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