Agent

Sellers furious after buyers cancel deal, pocket deposit

Must agent reimburse sellers $2,500?

DEAR BOB: We put our home up for sale in early October. Within a week, we signed a sales contract with buyers. Eight days later, the buyers backed out, stating they changed their minds. We opted to keep their $2,500 earnest money deposit. But we discovered the next day the real estate agent never received the $2,500 stated in the contract. We believe we are owed this money but have been advised to "forget it." Who is at fault for not actually collecting the $2,500 and should we try to collect it? --Joy C. DEAR JOY: Shame on that real estate agent. Unless the real estate agent told you the $2,500 earnest money deposit stated in the sales contract had not been received from the buyers and deposited in the agent's trust account, that agent is clearly liable to you for the missing $2,500. Purchase Bob Bruss reports online. If she refuses to pay you the $2,500 promptly, take her to local Small Claims Court to obtain a judgment against her. There is no valid excuse for a real estate agent...

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