R
ratbert
Guest
What is the name of your state? I live in Florida.
I contracted to buy a home on just over two acres July 28, 2004. The seller agreed to the terms and a closing date of Sept 7, 2004 and accepted a EMD of $1000.00, which is in the hand of an escrow agent. On July 31, the sellers changed thier mind. They agreed Aug. 2 to return the EMD which I have yet to recieve. I still want the property. I am temporarily living in an expensive, short-term residence. I have been told (heresay) that the sellers intend to put the property on the market again in Dec./Jan. The property was undervalued in my estimation. The contract limits desputes to arbitration. What should I do? If the seller sells the property at a higher price, would that not be lost profits (damages) to me? How long are they allowed to hold my EMD?
I contracted to buy a home on just over two acres July 28, 2004. The seller agreed to the terms and a closing date of Sept 7, 2004 and accepted a EMD of $1000.00, which is in the hand of an escrow agent. On July 31, the sellers changed thier mind. They agreed Aug. 2 to return the EMD which I have yet to recieve. I still want the property. I am temporarily living in an expensive, short-term residence. I have been told (heresay) that the sellers intend to put the property on the market again in Dec./Jan. The property was undervalued in my estimation. The contract limits desputes to arbitration. What should I do? If the seller sells the property at a higher price, would that not be lost profits (damages) to me? How long are they allowed to hold my EMD?
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