What is the name of your state? Texas
Last year i paid $1,000.00 earnest money to a title company for property i was buying. Several weeks after we were supose to close on the property the sellers backed out. We both signed release forms with the title company so i could get my money back, but the title company is still holding my money. They said they would not release my money until someone paid for the survey that was done on the property. The people still live there and still have their home for sale. The survey company said they would be paid at closing by whomever buys the property.
Can the title company hold my money, for a sale that the seller backed out of, for this other company? I did not know that title companies were also collection agencies for other companies.
Last year i paid $1,000.00 earnest money to a title company for property i was buying. Several weeks after we were supose to close on the property the sellers backed out. We both signed release forms with the title company so i could get my money back, but the title company is still holding my money. They said they would not release my money until someone paid for the survey that was done on the property. The people still live there and still have their home for sale. The survey company said they would be paid at closing by whomever buys the property.
Can the title company hold my money, for a sale that the seller backed out of, for this other company? I did not know that title companies were also collection agencies for other companies.