earnest money

hey guys,

thanks in advance. I put earnest money on a property and the deal didn’t go through. the bank said the property wasn’t worth the selling amount.

title company says that there’s a form that has to be signed by both seller and buyer to release earnest money.

what do i do?

Howdy Rashidi:

Title company has blank forms. Put your name in as buyer and sign and get the seller to sign their name and get the money back.

As long as you had the contract subject to loan approval you should have no problem. If there is a dispute you may have to go to artitration or file in small claims court if you feel you are correct and deserve the refund.

Hope this answers your questions