My question involves real estate located in the State of: Pennsylvania
We were under contract to purchase a home, and then the house was robbed (plumbing, electrical, etc). The deal fell through because the sellers were not willing to push back the closing date even though the repairs needed to be finished before the inspection date. They have not returned our initial deposit of 1,000 dollars and the sellers went on to sell the house to someone else on the same day as our scheduled closing date.
Our realtor told us we would have to wait 365 days to receive the deposit back since the sellers have 1 year to make a claim on it. It's now been 6 months after that 365 day mark and we still have not received the deposit. Our realtor now avoids most of our contact and gives us little information about what's going on when she does return our emails or calls. Since she won't give us any information, we would really appreciate some advice for how to get this deposit back? What are the laws in Pennsylvania for this? Is she correct that we're supposed to receive it after 365 days? And if so, then why would it still be an issue 1.5 years later? Is there any advice for what steps to take next?
Your advice is greatly appreciated!
Philadelphia, PA
We were under contract to purchase a home, and then the house was robbed (plumbing, electrical, etc). The deal fell through because the sellers were not willing to push back the closing date even though the repairs needed to be finished before the inspection date. They have not returned our initial deposit of 1,000 dollars and the sellers went on to sell the house to someone else on the same day as our scheduled closing date.
Our realtor told us we would have to wait 365 days to receive the deposit back since the sellers have 1 year to make a claim on it. It's now been 6 months after that 365 day mark and we still have not received the deposit. Our realtor now avoids most of our contact and gives us little information about what's going on when she does return our emails or calls. Since she won't give us any information, we would really appreciate some advice for how to get this deposit back? What are the laws in Pennsylvania for this? Is she correct that we're supposed to receive it after 365 days? And if so, then why would it still be an issue 1.5 years later? Is there any advice for what steps to take next?
Your advice is greatly appreciated!
Philadelphia, PA
Purchase Contracts: Returning Earnest Deposit After Home Purchase Contract Falls Through
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