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Rainmaker
1,052,321
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Depends on why it fell apart!
Our AZ RPC gives Escrow Company discretion over how to disburse earnest deposits in event of breach.
Contract is King. Remedies for breach are clearly outlined, non-breaching party usually entitled to earnest deposit.
There has only been one time in 18 years that a title company IMO blew it and gave earnest money back to a buyer who breached a contract.
Nowadays, everybody so careful, the title company is reluctant to act unilaterally even though they can. And they make everybody sign a mutual cancellation.

Aug 03, 2018 06:25 AM
Ambassador
2,684,209
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Good morning, Peter.

        Title Attorney / Title Company holding the deposit wants a release signed by both parties before they return it. 

     Typical form is FAR RC-3X, Release and Cancellation of Contract.

    

Aug 03, 2018 06:21 AM
Rainmaker
716,049
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

It depends on the circumstances.

Aug 03, 2018 06:15 AM
Rainmaker
5,217,433
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I let the title company holding the deposit refund the money when they have an autorized release signed by the buyer and seller.

Aug 03, 2018 06:15 AM
Ambassador
3,345,257
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

There has never been a time in my business when the emd was not released. The correct release form is signed by the parties. It is provided to escrow and the escrow officer releases the funds per the mutually signed release. 

Aug 03, 2018 07:44 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Not without everyone's signatures. I would say that's a generous percentage of 99.999%.

Aug 03, 2018 06:51 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Our contracts in Oklahoma are 97% buyer oriented so keeping the emd is unusual.

Aug 03, 2018 06:40 AM
Ambassador
5,049,488
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It would be released by escrow with signatures by both parties. It would depend on why, the timing, and the terms of the contract. I have no idea what's typical assume it's more common for it to go back to the buyer.

Aug 03, 2018 06:36 AM
Rainmaker
4,883,260
Richard Weeks
Dallas, TX
REALTOR®, Broker

I am never the escrow agent so I don't have the emd to return to the buyer.  Our contract covers duties and responsibilites of the emd and release of it.  

Aug 03, 2018 06:19 AM
Rainmaker
2,781,313
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Unless they give a legal reason otherwise

Aug 03, 2018 06:14 AM
Rainmaker
989,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

It's not up to me

Aug 03, 2018 04:21 PM
Rainmaker
249,315
Denise Copeland
Home Sales Palm Beach - Jupiter, FL
Jupiter Abacoa Sales & Beach Front Luxury Homes

If it falls apart due to a contingency that was not met, then absolutely. If it is due to the buyer not moving forward after all contingies are met, then NO. The contracts we use specify that my broker retains 50% of the EMD and the seller receives that balance of the money.

Aug 03, 2018 10:05 AM
Rainer
509,449
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

Title does this. If it's still during the option period, any of the agent can request the release of the emd as long as title received the termination document.  After the option period, then both parties will have to sign.

Aug 03, 2018 09:13 AM
Rainer
427,307
J.R. Schloemer
Kentucky Select Properties - Louisville, KY

Follow what the contract says. Each situation is unique

Aug 03, 2018 08:43 AM
Rainmaker
7,836,623
Roy Kelley
Retired - Gaithersburg, MD

Yes. We follow the terms of the contract.

Aug 03, 2018 08:25 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

NOTHING is released without a fully executed release agreement....if one party refuses, it's not our money and we do not make decisions about it.... if the attorneys cannot negotiate it, we will eventually get sued for it and turn it over to the clerk of courts....NOT OUR MONEY....NOT OUR DECISION AS TO DIRECTION OF THE FUNDS....

Aug 03, 2018 07:48 AM
Ambassador
3,383,334
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

By "you," I am sure you mean the seller.  What does the contract say?  That's the answer.  In our market, there are so many outs for the buyer that it is rare a seller can cash out the EMD if a deal falls apart.

Aug 03, 2018 07:42 AM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Peter Mohylsky - if it is as per the contract.

Aug 03, 2018 10:34 PM
Rainmaker
2,707,721
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

The title company releases it to the appropriate party, buyer or seller, depending on the contract and its termination cause.  But, all parties have to sign a Release agreeing to the funds disposal.

Aug 03, 2018 08:08 PM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Most of the time.

Aug 03, 2018 06:27 PM
Ambassador
2,161,148
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

It is up to what the contract calls for and what the parties involved (which I am not one of) agree on. 

Aug 03, 2018 12:03 PM
Rainmaker
2,182,552
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Yes, if the Buyer isn't in default 

Aug 03, 2018 11:06 AM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Sellers call.

Aug 03, 2018 10:00 AM
Ambassador
2,062,308
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home is where the hearth is.

I don't make that decision.  If the buyer exits the contract within legitimate contract reasons... (ie: attorney review, inspection, or mortgage contingencies)... we don't have a leg to stand upon to keep any e.m.

If they've broken the contract, and decided to back out "just because", their e.m. is at risk... it's the decision of the seller as to whether we're going to release the funds.  We are only allowed to release money at the express written direction of the buyer/seller as they direct.  Period.

Aug 03, 2018 09:42 AM
Rainmaker
1,503,048
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Escrow holds the EMD and will release it upon mutual agreement by both parties.  Depending on what has transpired during the escrow, fees may be deducted or the seller may be entitled to it.

Aug 03, 2018 09:39 AM
Rainer
117,135
Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

BOth parties sign for release.  If the buyer and seller have each done their part of the contract, but it falls apart due to a contingency not clearing, typically the money is refunded.

Ive had a few deals where how much is refunded is negotiated due to buyers lack of progress, delays, etc. 

Aug 03, 2018 09:23 AM
Rainmaker
4,572,645
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

It's up to the seller, not the agent.

Aug 03, 2018 09:18 AM
Rainmaker
2,390,787
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Yes, provided the proper paperwork is signed by all concerned Peter Mohylsky 

Aug 03, 2018 09:06 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't do the release.  I forward the release request to the holder of the escrow funds.

Aug 03, 2018 06:56 AM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

We agree with Jeff Dowler, CRS 

Aug 03, 2018 06:53 AM
Rainmaker
764,033
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Never, it is not mine to release.

Aug 03, 2018 11:26 PM
Ambassador
5,230,164
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Depends upon the Contract - when they terminate, based on the dates of the Contract, is how NC operates. 95% of the time, the sellers opt to release the EMD.

Aug 03, 2018 10:35 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It is up to the buyer

Aug 03, 2018 08:29 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Hmmm,

The lender blows the deal.

So what are my choices?

  1. Take the money and run
  2. Let who ever is holding the money, take it and run
  3. Divy the dollars so everyone except the buyer is happy.
  4. Advise all parties to sign the release and return ALL the money. In Florida buyers are extremely well protected.

Any situation that does not return ALL the money when the lender drops the ball should be identified as a possible reason why so many are not fond real estate people.

Aug 03, 2018 12:38 PM
Rainmaker
1,045,440
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Typically the EMD is held by the Settlement Co in most cases in Northern Virginia or sometimes by the Broker and what happens to it depends on the what and why the contract fell apart. Peter Mohylsky 

Aug 09, 2018 08:04 AM
Ambassador
2,178,703
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Most often but not always.

Aug 07, 2018 06:05 PM
Rainmaker
5,868,699
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Our state contracts are written for the buyer, and generally tough for them to lose their EM.   In over 20 years, only 4 Sellers have kept the EMD.

Aug 06, 2018 07:45 AM
Rainmaker
1,726,096
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

This decision is up to the parties to the contract.

Aug 05, 2018 05:19 AM
Rainmaker
2,071,025
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

I don't recall if I had any EDM was not release. And the past 11 years only 2 contracts fall apart.

Aug 04, 2018 07:29 PM
Rainmaker
1,311,772
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Release or not of EMD has nothing to do with the market. It is a byproduct of the contract. Cancellation under the terms and conditions specified in the agreement will likely lead to release of the EMD back to the buyer. DEFAULT on the part of the buyer may lead to forfeiture of the EMD to the seller. One size does not fit all. Conflicts can lead to legal action by one side or the other.

Aug 04, 2018 01:37 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Depends on what's in the contract

Aug 04, 2018 07:57 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Depends on the contract.

Aug 04, 2018 07:39 AM