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Old 06-05-2012, 11:11 AM
1 posts, read 1,004 times
Reputation: 10


My offer on a house was accepted. I filled out the addendum for an REO that they wanted. My realtor did not tell me where to give the $7,800 for the earnest deposit check. According to the contract I needed to give that.

Needless to say that the bank relisted the property the next week for $50,000 more. Do I have any recourse????
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Old 06-05-2012, 05:04 PM
Location: Southern California
890 posts, read 2,569,048 times
Reputation: 797
How much would you sue for, and what's the damage?

And it is written in the contract which is your sole responsibility.
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Old 06-06-2012, 04:50 PM
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,958 posts, read 19,970,833 times
Reputation: 6407
So you were ready to produce an earnest money check but didn't know who to make it out to?

Did your REO addendum have the name of an escrow company? I'm willing to bet that since you are in CA and CA law says you can choose your own escrow company, you have to sign a portion of the REO addendum stating whether you choose your own or use the banks suggested escrow company. It's named in the REO addendum.

How long did you wait to ask? It doesn't really matter that the bank listed it for more, resubmit your original offer.
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