Hello Every One,
The potential buyer of my property backed out of the deal. I signed the release document to turn over his deposit, but he didn’t sign it. He has not responded to any correspondence neither - at least that is what the buyer’s agent stated.
The buyer and seller agents are from the same firm.
Small claims court stated that I had to file against the potential buyer, even though the RE agency had the funds. I won a judgment against him.
It’s the real estate agency that has his funds in escrow - as least that is what I was told. The head of the firm ignores all follow-up correspondence with me.
How can I find the escrow account number from the RE firm, so that the sheriff’s office can collect the down payment that is owed me?
I looked through my files to see if the RE agency ever sent me any type of payment so that I could see their bank info on the back of the cashed check, but I don’t have such a check.
Please advise me. Thanks.
normally (in Texas anyway) the escrow money is held by the title company, not the real estate agents office,check with the title company and see if its on deposit with them
File a complaint with the local board of realtors as well as your state real estate commission.
Andy and JMD,
Thanks for your feedback.
Update:
I checked with the title company that closed with my previous purchase closing, thinking that the RE firm would use the same one – since the agents are from the same firm used for my purchase.
The title company has no record of a recent escrow for this property. Therefore, they suggested the RE firm deposited the funds into its own escrow or bank account.
Currently, I’m pursuing the small claims court writ of execution so that the sheriff’s office can enforce the escrow to me. I was also told that the sheriff’s office can approach the RE firm even if they don’t have the specific account number or bank used (though I was told previously differently). Hopefully, this will actually work.
Depending on which government agency I speak to, I get a different instruction. So, we’ll see what happens.
Also, I will be filing a complaint with the RE commission to see if the city’s RE Recovery Fund will provide the escrow amount to me.
If anyone has further advise I’m still open.
Thanks again.
"Depending on which government agency I speak to, I get a different instruction. "
My exact same experience every single time I deal with any government official from the local dog catcher to the governor.
I once had a building inspector fail me for a firewall I had to replace in the attic between 2 townhouses despite it being built EXACTLY to the plan he approved and had his signiture. Evidently he never actually read the plan but just glanced through it before approval. No consequences or fear of consequences on his part. Luckily it was a minor revision to fix.
look at the cancelled EM check and see what accout it was deposited in, if its a cashiers check ask the bank to get you a front and back copy of the cancelled check