Frustrated and disappointed.
Good morning Reddit Users.
I recently had assigned contract on what I thought would be my dream home. She needed lots of renovations and several things were inoperable such as all the appliances and the AC however, the seller and myself agreed on a sale and we were all set to close after secured loan funds were sent to the closing title office in Marion County Florida. On the day of the closing, the seller did not show up so in reality the contract to purchase is Null and Void, unless an extension has been signed. Had myself or the sellers agent or my agent Seller I would’ve gladly given them an extension to make it to closing. However, he’s still after two weeks nowhere to be found or heard from. Seeing no end on my dream home garage I decided to cancel my offer and get my money back rather than let them just sit title agency and I didn’t own a home. I didn’t know a house. And I no longer had my own money. Long story short and I guess the question I’m asking is how long can a Florida title company hold onto your initial escrow deposit in this case $5000. The escrow company title agency said that they can’t the escrow monies until the seller signs off on it. Well he’s nowhere to be found. He has ghosted everyone how long in this title company hold onto my money. I know what a lot of you were thinking I should contact a real estate lawyer well I’d rather not go that route since I’m out $5000 inspections surveys more inspections, termite the cost of acquiring the loan. And my initial $5000 escrow deposit I’d rather not spend any more money if I don’t have to.
Has anyone else ever experienced disappointing sale on a real estate purchase at the last minute and it seems like the escrow company is hanging escrow deposit without . To me if the seller did not show for the closing date and has not Communicating with anyone regarding the after numerous attempts to contact them, then I have no contract on this property give me my money back.