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08-28-2008, 03:37 PM #1
Renter
- Join Date
- Aug 2008
- Location
- Indianapolis
- Posts
- 5
Mutual Release Problem
So, I my client entered into a PA with a seller who horrible with communication. Unfortunately, the seller fell behind on payments, did not inform his LA and now the home is going to be a short sale. Well, my client does not have time to wait and wants to move on. Well, I sent a mutual release to his LA and he still has not gotten in touch with his seller. It may take a while, IMO, before we get the earnest money back. Is the check already cashed? because my client really needs that money back to make another offer on a house. What can I do?
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08-30-2008, 04:03 AM #2
Condominium
- Join Date
- Sep 2007
- Location
- Indianapolis
- Posts
- 302
The check should already be cashed. It should have been deposited in the broker's bank account within 2 days from receipt. You may want to have your client see if has cleared though, maybe this didn't get deposited. Other than that, if the seller won't sign the release it could be a long process.
Mike Taylor
Broker/Owner
Red Door Real Estate
Indianapolis Real Estate| Indianapolis Homes | Indianapolis New Homes | Carmel Real Estate | Fishers Real Estate |Noblesville Real Estate | Greenwood Real Estate | Zionsville Real Estate | Westfield Real Estate | My Real Estate Blog
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