Unclaimed money from an old real estate escrow account...?
I put earnest money down on a home, and so did the owner of the home, through a title company. I backed out of the deal before closing and for years I have not been able to get my earnest money back.
I have been contacted by the comptroller of public accounts and they have sent me paperwork for me to sign saying the money is indeed mine. But they also are sending me paperwork that the OTHER party who put earnest money down must also sign. The problem is that I have no IDEA where these people are six years later. And even if I could find them, I can't MAKE them sign the papers. I dont think they would anyway, because they were pissed I didn't go through with the deal.
Are there any other options? I don't want to hire an expensive lawyer, that would defeat the purpose.
OK, I put down x amount of money and the seller put down x amount of money (the same amount). We know how much each other put down and so does the title company that keeps the money in an escrow account. I am only filing for the amount of money I PUT IN, obviously I dont think I'm entitled to the seller's earnest money. And yes, earnest money is considered unclaimed money in this scenario and must be reported as such by the company that holds the escrow account. My question is how to get the money, the full amount owed back to me, without the other party having to be involved?
- linkus86Lv 79 years agoFavorite Answer
Simple ...don't claim all the money. I am sure there is space on those forms to alter the full claim. Instead you could likely look up your bank records and find the canceled check that spells out exactly how much was your contribution in earnest money. Attach a copy to the claim forms.
- A HunchLv 79 years ago
Why is the money yours? Earnest money is money put down as a security deposit. Backing out of the deal would typically forfiet this money. Why do you think that get it back?