Please enter a valid email address. We will review this content.

EMD on a short sale not approved by the bank (short sales, real estate) - Las Vegas - Nevada (NV) - City-Data Forum

Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy. We think we've answered this question for you! Click here to see the answer. We will email you a list of the new items that match your criteria at a time of your choosing. Be a Good Neighbor. Be respectful and on-topic.

Home Buying: When will the earnest money check be cashed? - Trulia Voices

No spam or self-promotion! See our Good Neighbor Policy.

Once you select this as the best answer, it cannot be changed. The Best Answer will be shown directly below the question. The person with the best answer will receive credit in their profile. Do not send me email notifications for new answers. If earnest money is given directly to the seller who is not represented by an agent, there are no requirements of a trust account. All the regulations about earnest money apply IF a third party holds funds for the benefit of the seller or buyer.

There is nothing illegal about a seller accepting good-faith deposit with an offer to purchase. It is the seller's property after all and they don't have to sell through an agent. Otherwise you run the risk of losing more than what you bargained for. Do agents not like to put in low offers? When to start looking? Can a buyer cancel a real estate contract once the due diligence period has passed?

Multiple Listing Service MLS. Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy. Sign in or Join. Buy Homes for sale Homes for sale Foreclosures For sale by owner Open houses New construction Coming soon Recent home sales All homes Resources Buyers Guide Foreclosure center Real estate app Change your address Rent Rentals Apartments for rent Houses for rent Pet friendly rentals All rental listings All rental buildings Rental Manager Sign in to see your listings List a rental it's free Resources Renter resources Renter Profile Rent affordability calculator Rent vs.

Real estate agents Property managers Home improvement pros Other pros I'm a pro Agent advertising Agent resource center Join the Agent Directory Access agent hub Real estate marketing guide Agent email scripts Listing flyer templates Home design Find design ideas Kitchens Bathrooms Bedrooms Dining rooms Living rooms See all spaces Popular styles Contemporary Traditional Modern More Blogs Zillow Porchlight Zillow engineering blog Zillow research.

All Topics Zillow Questions Home Buying Home Selling Mortgage Rentals Local Topics Home Ownership Pro-to-Pro. Back to Results Views: Delaware Florida Georgia Guam Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Northern Mariana Islands Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Virgin Islands Vermont Washington Wisconsin West Virginia Wyoming.

Problem Select one Offensive content Irrelevant content Spam pure self-promotion Other. Your email Please enter a valid email address. Content flagged We will review this content. This service is temporarily unavailable.

Please come back later and try again. Email Share on Facebook Tweet. Create an Email Alert. This alert is for the following: We put an offer on a short sale property and the seller accepted our offer Category: Buying Process Advice Type: Recipient's email Separate multiple addresses with a comma.

Email has been sent! You will also receive a copy of email. This home has been saved! Go to My Zillow in the top right corner to see your saved homes. Your Answer Upload Image. Email me when other answers are added. Share post on Facebook. Best Answer Selected Once you select this as the best answer, it cannot be changed.

Seth Captain, "CaptainSeth" Agent 26 reviews.

Earnest Money Cashed On A Short Sale Is It A Go All Locations : Nationwide Real Estate Advice

When people see the words "short sale" and "accepted" in the same sentence they get giddy. It's almost like a unicorn sighting. What you have is barely more than somebody who decided to let you into their house to sell girl scout cookies.

I also hope you meant the real estate office, not the actual seller, cashed your check. You wouldn't give them those cookies unless they paid you, right? And they wouldn't buy your cookies if they said, "COOKIES" in handmade letters and a partially opened box. Get a realtor, Get a lawyer. Stay off of Zillow. Ofe Polack, "Ofe Polack" Premier Agent 24 reviews. Have you discussed this situation with your buyer agent?

If you are working with the seller's agent, you have no representation since the agent is working for the seller. Escrow checks are deposited on the listing agency escrow account and stays there until closing or should be returned to you if you withdraw your offer, unless otherwise stated on documents you may have signed already.

Craig Fialkowski, "craigfial" Agent 37 reviews. As always, if you enter into a legal contract, and have questions about it, you need to consult an attorney. Nobody on these forums can answer your question with any accuracy. Generally the Short-Sale contract will have contingencies that allow you to cancel after a certain amount of time or benchmark. It's very common for these transactions to take several months with little or no communication from the seller or sellers agent.

I do the best I can to keep everyone informed, but that is not typical. If these were done, the file is moving forward. If not, something is off. Your agent, if you have one, should be pressing the other side for info.

If you want out of the contract, I'm sure there is a way out, but getting your deposit may be a bit more challenging. It's been a while Since the seller accepted our offer but as I was going thru the our short sale addendum it's says on paragraph 4: Bernard Gibbons, "Bernard Gibbons" Agent 12 reviews.

Surely you mean that the escrow company Title Company? How long ago did this happen? It takes weeks for a lender to respond to a short sale request. Don't you have a Realtor representing you?

The terms of the contract explain everything to do with your earnest money deposit.

They deposited our earnest check that mean BofA apprroved SS? (agent, escrow) - Foreclosures, Short Sales, and REOs - - City-Data Forum

Nan Brennan, "NanBrennan1" Agent 7 reviews. I always write up my contracts that the earnest money is due within 3 days of bank approval.. Related Questions what is space rent on manufactured homes? In Buying Process May 10 In Buying Process April In Buying Process November 10 In Buying Process March Related Articles Inspections During Escrow In Buying Process September 21 In Buying Process September 21 In Buying Process June 03 Be A Good Neighbor Zillow Advice depends on each member to keep it a safe, fun, and positive place.

Atlanta real estate Baltimore real estate Denver real estate. Jacksonville real estate Oklahoma City real estate Orlando real estate. Phoenix real estate San Antonio real estate San Diego real estate. San Jose real estate Seattle real estate.