What is the name of your state? FL
How do I handle a situation where Buyer was not able to obtain loan financing, and gave notice of such fact to the Seller 2 days after the expiration of the 30-day loan approval period? Despite the delay in giving notice to the Seller, can Buyer still get his deposit back if the sale was contingent on loan approval?
Also, it appears Seller did not (yet) have title to the property, as he was in the process of purchasing the property from the original owner and then re-selling it to the Buyer. As long as Seller was in a contract to purchase the property, does he have the right to also enter in a contract for the sale of the same property?
To complicate matters even further, deposit is being held in Escrow, and Seller is claiming the escrow agent is withholding half of the deposit to pay for its fees.
Any advice would be much appreciated.