Any ideas on how to put pressure on seller and seller's agent to return buyer's EMD back?
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My buyer couldn't get a loan approved so he had to cancel the deal just before COE. Escrow prepares the paperwork noting that my buyer should get his full EMD back. The seller won't sign the release until he'll get reimbursed for the money he spent fixing the majority of the items according to the buyer's Inspection report on his house. I already followed on my broker's advice and threatened the Seller's agent with a suit and with "LIS PENDENS" but he wasn't impressed. Escrow won't take side until buyer and seller come together but I checked with other escrow companies and they all said that in my case because the buyer is within the wording according to the contract, they would hold the EMD for 30 days but would release it to the buyer after 30 days . I think that FATCO won't follow up on the same logic because the seller's agent does a lot of deals with this escrow officer.Buyer approached few attorneys but none wanted the case. Small claim takes about 3 months and buyer is in hurry.
Any ideas on how to put pressure on seller and seller's agent to return buyer's EMD back?Seller needs to correct the rectal/cranial inversion they are clearly suffering from. If this buyer found items from the inspection that required repairs so will the next buyer. If the buyer is within the confines of the contract then go ahead and file the Lis Pendis. Your buyer will most likely have to wait, but I promise you when the seller gets the paperwork from the court that money will fly out of their broker's account.
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