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#117175 - 03/04/06 06:54 AM with holding buyers deposit money
artco1234 Offline
Junior Member

Registered: 03/04/06
Posts: 3
Loc: colorado
I have an offer excepted on a home in Colorado with a 5,000 deposit; in 2005 I went bankrupt from a business failure. The title company was not able to close on the date given (was not the fault of my ability to fund the deal) the selling agent put the house back up for sale and asked for a release of my 5k to give to the seller.
1) Since they kept my deposit for the time being do I have the right of first refusal to buy
2) Is there a real estate lean I can put on the property until we clear title insurance we are probably 10 days away?
I do know I can ask for my money back and go to arbitration. I want this property and would like to tie it up until the title company can close. The Remax agent has turned out not to be very reasonable. Just a footnote I did disclose prior to contract I had a bankruptcy and that this would be a little extra work, but I was pre-approved prior to contract.

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#117176 - 03/04/06 09:53 AM Re: with holding buyers deposit money
pikes peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2743
Loc: CO
What does your realtor say? In the absence of a realtor, get an attorney, he'll advise you of your options.

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