What to do regarding an earnest money Rrefund?
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What to do regarding an earnest money Rrefund?
During the closing of the mortgage loan, my name was removed from the purchased agreement per an purchase addendum. The addendum also indicated that the initial earnest funds were to be refunded. However, I have yet to receive the refund from the seller or title company. I have already contacted both parties but neither has given me a confirmation that a refund has been sent. It has been 4 months, what should I do?
Asked on August 13, 2018 under Real Estate Law, Minnesota
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
If there was an agreement to return the money to you and they are not honoring it, your recourse would be sue them for a court order requiring the refund. You should name both the seller and the title company in the lawsuit, to make sure you have all parties with control over the matter invovled, and can get a court order controlling both of them (court orders only bind the parties to the legal action). In the lawsuit, you will show the terms of the agreement and that you have done anything required of you in it.
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