Talk of The Villages Florida - Real estate question

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Quote:

Originally Posted by retiredguy123 (Post 2324549)

Not exactly. First of all, the escrow company determines if the buyer has breached the contract, which is the only time the earnest money can be forfeited. Second, the broker legally represents the seller via the listing contract. In many listing contracts, the broker is entitled to half of any forfeited earnest money. In some states (not in Florida), you actually need a court order to have earnest money forfeited. The reason earnest money would ever be forfeited would be to cover any losses the seller incurs. So, even if the money is forfeited, the buyer can seek a refund unless the seller can prove that they lost money, such as actually selling the house for a lower price.

But, as a practicable matter, I believe that, if an attorney demanded that the earnest money be returned, I doubt that the broker or the escrow company would challenge it.

Yeah this situation is confusing. I’m used to the buyer having an agent that asks the seller agent for a release. Massachusetts is an attorney state so usually if there is disagreement the attorneys hash that out.

You did not indicate whether the home is listed with The Villages or MLS broker. The Village contract allows the seller to cure by repairing (up to 1.5% of sale price). You can cancel only if the seller refuses to correct.

No don't love villa so much I can't move on BUT they won't refund our 10,000. Yes pls name of RE AGENT

Latest. RE AGENT SAID IT WAS A BROKEN WATER SPRINKLER HEAD AND ITS ALL TAKEN CARE OF?? ALL DRY HE SAYS. HOW CAN I BELIEVE HIM?? HE SAID IRRIGATION GUY LOOKED AT IT??? DOESNT SEEM SUFFICIENT TO ME?

Not villages. Realty Executives

Quote:

Originally Posted by Heartnsoul (Post 2324936)

Not villages. Realty Executives

Hmmm? I dealt with them. Call the attorney, Retiredguy123 gives reliable advice.

Over a sprinkler?? That’s pretty weird unless water damage causes some major problem it would not be called a “broken $3 sprinkler”

Quote:

Originally Posted by Robnlaura (Post 2324960)

Over a sprinkler?? That’s pretty weird unless water damage causes some major problem it would not be called a “broken $3 sprinkler”

No, because they want to keep her deposit. There maybe mold, the line maybe cracked etc etc why are you trying to minimize the issue?