Legal Question in Real Estate Law in Pennsylvania

Escrow check gone.... Please help!

Escrow Money....Is it against the law for the attorney to keep the escrow check.

The contract does not state that I would get my money back as the sellers Attorney advise me (via email) that " indicates the bankruptcy court will not approve the agreement of sale if there is a mortgage contingency clause." when I asked for them to put it in the contract.

The bank did not approve my loan because the business is out of market reach. This had nothing to do with credit, etc as my end is clean and shows excellent credit etc. Because the bank would not approve my loan for the only reason "that the business is out of market"

With this I tired another bank; as advise to do so, I got the same non-approval letter.

Now the 15k escrow check is gone, and the Attorney says I am at default and wont return it. I did notice that this attorney cashed the escrow check after not even a week of giving them the check--which I thought the escrow check doesn't get cashed until the time of the closing....

Is this right???? Can they cash the check right when they get it?? Can they keep my escrow check???

Any advise is appreciated, I am at lost and feel like I was taken advantage of


Asked on 11/26/13, 9:51 am

1 Answer from Attorneys
John Davidson Law Office of John A. Davidson

Probably. Let e get this straight you decided to go engage in a major real estate transaction without an attorney. So you Saved what $1000. To lose $15,000. You'll probably should hire an attorney to clean this up. However, it will cost 3 to 5 times what getting an attorney in the first place would have cost.

{John}

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Answered on 11/26/13, 10:40 am


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