Quote:
Originally Posted by huntervonmanley
The escrow company ABSOLUTLEY is Not the decider as to who gets the escrow money if the deal does not close. If the deal does not close and both parties lay claim to the escrow, it will be the Florida Real Estate Commission who decides will get the escrow. Please do not give misleading information to this lady, who is clearly distraught (rightfully so).
Ma'am if you read this, I am praying that your husband's surgery goes well and he makes a full and speedy recovery.
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I don't think my information was misleading. I agree that the escrow company may not make the "final" decision about the earnest money, but neither does the broker. The sales broker has told the buyer that she will lose the money if she doesn't complete the sale. That is not true. But, if the buyer makes a claim to the money in a letter to the escrow company, preferably through an attorney, the escrow company can "decide" to withhold the money from the broker and the seller. To me, that is the best course of action for the buyer. And, if the sale is not completed, the buyer will most likely have the earnest money refunded. Do you have a better idea?