Legal Question in Real Estate Law in Pennsylvania
Return of purchase deposit.
I bought a house in May for June settlement. After inspection, we sent an insp addendum requesting a certified engineer inspect the bowed & step-cracked basement wall, to which they agreed. Seller signed, but didn't return it until after they altered it to also say ''basement prof'', and only brought in a contractor who merely gave an estimate. Seller also asked I pay part of repair costs. Due to 1) delay in returning signed adden...took 9 days, 2) altering such adden without our knowledge, 3) only bringing in a contractor and not a PE as promised, and 4) asking me to help pay (which we viewed as a counter offer). I signed and sent a notice to terminate. They refused to sign, and feel they are entitled to keep my $1000 deposit. We then sent a letter informing they had 5 days to reply and return my dep or we'd take them to court. They never answered, and their agent stop returning my agent's phone calls. What next? Am I right in insisting that I get my deposit back? As far as I'm concerned, they're in breach of contract.
BTW - They did finally bring a PE in....after I informed them I was terminating the agreement.
1 Answer from Attorneys
Re: Return of purchase deposit.
If a real estate agent/Realtor was involved and is holding your deposit, the Realtor may not release the deposit money until both parties have signed a release authorization.
You and your Realtor need to make this demand in writing.
You could sue in Municipal/District Court to recover the deposit, if your Agreement doesn't limit your rights to arbitration. If it does, ask your Realtor how to start an arbitration.
If all else fails, consult with a local real estate lawyer.
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