Getting the Good Faith Deposit

[puffypuff119]

What is the name of your state? New Jersey

On Sept 6 my home went under contract. Our Buyer has a preapproval and a mortgage commitment letter. The settlement date of 10/31 (yes, 2 months after the house went under contract) was not me and extended by 1 week, the mortgage company and the Buyers realtor assured us that the Buyer had the mortgage, they just needed time to tie up loose ends. Then THAT settlement date came and went - more time was needed and ultimately, the day before the 3rd attempted settlement (mid Nov) we were informed that the buyer did not qualify for the mortgage. We request the Goof Faith Deposit from the buyer and did not hear a word. We never received a letter stating she did not qualify, nor a call back from her realtor or her realtors broker. After several unreturned calls made by my realtor and her broker to the buyers realtor and broker. We again, faxed the signed escrow release form (for us to keep) and again, no calls or response whatsoever. The Buyer hasn't requested this money and her realtor and her realtors broker all up to and including today - still did not advice us of their clients status.

My question is - the good faith deposit is being held by Weichert (my realtors company). They can not release the money without both seller and buyers signature. Who do I have to take to small claims court to fight for this money? Would it be Weichert since they are holding the money? Would it be the buyer since she has not signed the release form? What it be her realtor/broker for failure to communicate? We are at a loss. We have been carrying the 2 mortgages now - and have incurred many additional expenses in this whole process. Any help would be appreciated!!

Thank youWhat is the name of your state?