Legal Question in Real Estate Law in Texas
Real estate- commercial
I had given a real estate broker to put in escrow 25th on purchasing a hotel , the appraisal did not come high enough and bank is not comfort doing loan. Seller is not letting real estate release my money. says hotel off market to long due to bank issues, hotel is out of Iowa, Broker in Ill. I am in Tx. what can or should I do.
Asked on 3/04/07, 4:57 pm
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
Re: Real estate- commercial
Your contract should spell out whether or not you are entitled to the earnest money. If you don't understand your rights and obligations, you should have an attorney look at the papers and give you advice.
Answered on 3/05/07, 12:28 pm
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