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    syou's Avatar
    syou Posts: 15, Reputation: 1
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    #1

    Jan 12, 2007, 03:58 PM
    Release of Deposit
    Hi,
    Contract of sale went bad on my house. Contract had a pre-occupancy from 9/1/06 - 1/31/07. Tenants turned out to be scammers and only paid 2 months of rent and left. They are still liable for 3 months rent and unreimbursed utilities, damages and of course a release of the deposit.
    I found out that the purchase deposit on the house, a total of 6 k, did not clear in full at long and foster. Only the initial 2k cleared. The 2nd deposit was never deposited by their agent.

    I'm now trying to get a release written up by the broker of my agent (my agent left company) that states they are to release 6k and are still liable for rent, utilities and damages. Broker is taking FOREVER to get that done. What can I do to get this to move faster? I want the relase over to them and for them to say no to it, so the deposit would go to court. Is the broker the ONLY one that can send the relase over. Can I do it??

    I'm then going to file a large claim against the buyers and long and foster. Do I have to wait for the release to be dennied by the buyers for me to file the law suit?

    Thanks..
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jan 12, 2007, 05:33 PM
    Maybe it is just me, but I have read this several times and I just don't understand what type of release you are talking about ?

    A release that they are no longer listing the house for sale, that they are no longer the property manager ?

    Are you trying to hold the broker liable for the 6 K and lost rents ?

    I just don't understand what you are saying
    syou's Avatar
    syou Posts: 15, Reputation: 1
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    #3

    Jan 12, 2007, 05:57 PM
    Hi Chuck,
    I'm the seller and owner of the house. The buyers are the ones that owe me the money (rent and unreimbursed utilties and damages to house). The release I'm talking about is the release of deposit that is supposed to be held by long and foster in an escrow account. Long & foster is the buyers agent's real estate company. The buyers were supposed to put 6K deposit towards the house. Only the first deposit cleared. The 2nd deposit was never deposited w/ L&F by their agent, and I only found this out 2 weeks ago when issues began and I inquired about getting a release of the deposit done.

    MY broker is taking forever to get the release over to L&F. I'm entitied to the deposit per the contract. I want to get the release over to L&F so that the buyers can see it and I'm sure they won't sign it. Ultimately this is going to end up in court as a law suit.

    So I'm wondering if 1) do I have to have my broker send a release of the deposit to L&F and have the buyers deny it before I file a large claim suing both the buyers and L&F? (buyers for rent/utilities/damages and L&F for deposit)
    And 2) is my broker the only person that can get the release of deposit over to L&F or can I do it?

    Thanks

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