Earnest Money: Seller Foreclosed on house 12 days before closing.

What is the name of your state?What is the name of your state? OR

We were in the process of purchasing our first home and we were about 12 days from closing. Our realtor received a call from a person stating they had just bought this piece of property through a bank sale and it's no longer for sale. Needless to say, the whole deal fell through and we backed out of the deal.

Now, the original sellers will not sign off on the Earnest Money we placed in escrow. It's been 2 months and escrow still will not release the money even though our purchase agreement clearly stated the money would be return to the buyer in the event the seller could not provide a clear title.

Any thoughts? Thanks.

[HomeGuru]

Originally Posted by Jay10634

What is the name of your state?What is the name of your state? OR

We were in the process of purchasing our first home and we were about 12 days from closing. Our realtor received a call from a person stating they had just bought this piece of property through a bank sale and it's no longer for sale. Needless to say, the whole deal fell through and we backed out of the deal.

Now, the original sellers will not sign off on the Earnest Money we placed in escrow. It's been 2 months and escrow still will not release the money even though our purchase agreement clearly stated the money would be return to the buyer in the event the seller could not provide a clear title.

Any thoughts? Thanks.

**A: what did your Realtor advise you to do?