How do I get my 5000 deposit held in escrow.
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How do I get my 5000 deposit held in escrow.
I put a 5000 deposit on a condo in Florida. It was an over 55
community and was mis informed about my daughter being
allowed to live there without me being there full time. The
hoa denied us. Contract says that if hoa denies, refund is
returned. I cannot get my money back as the sellers are
refusing to sign termination of contract. Real estate office
has sent it into real estate association for review. This has
been going on since early October and I would like my
money back
Asked on December 6, 2017 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
You sue the sellers for the money. If the contract states that if the HOA denies you, you get your money back, then if they refuse to release your funds, they in breach (violating) the contract. They have to do what the contract says; if they won't, you sue them for breach of contract for the money. If small claims court in your state goes up to $5,000, suing in small claims as your own attorney ("pro se") is a fast, cost-effective option.
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