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How do you get your earnest money back after failed real estate deal?
Wiki User
∙ 14y ago
You need to review your contract to determine how and if you can get your deposit back.
Wiki User
∙ 14y ago
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When closing a real estate deal what will the real estate broker do with the deposit?
The earnest money deposit is held in an escrow account until the closing takes place. At closing the earnest money is either credited to your side to add to your down payment or it can be credited back to you in the form of a check. If your deal does not close there are different rules in each state as to how the earnest money will be handled.
WHAT IF Residuary beneficiary owes money to estate?
The estate can require that the beneficiary pay the money back. Or they may offset the amount against what they get. If there is anything left over, there shouldn't be a reason to make them pay it back.
When people take out a mortgage they must pay back the money?
Yes. The money must be paid back to the lender. If not paid back then lender can take possession of the real estate and sell it.
Your husband passed away leaving an estate He had 3 bank loans 2 unsecured your name is not on any loan docs Are you responsible for paying them back?
Well, the estate is responsible for paying them back, so the money will come out of the estate, which will mean that you will inherit less money from it. So in a way, you will be paying back the loans. That or the bank will put a lien on the property to secure their debts.
Borrowing money and now they are deceased to you have to pay back the estate.?
You still owed the money. The executor can ask you to pay back the loan. They can also credit it to any inheritence you may receive.
When closing a real estate deal what will the real estate broker do with the deposit?
The earnest money deposit is held in an escrow account until the closing takes place. At closing the earnest money is either credited to your side to add to your down payment or it can be credited back to you in the form of a check. If your deal does not close there are different rules in each state as to how the earnest money will be handled.
If you borrowed money from a parent in Georgia by law can they require you to repay it to their estate or have it deducted from your inheritance?
Yes, it can be considered a draw against the estate and the estate has the right to ask for the money back.
WHAT IF Residuary beneficiary owes money to estate?
The estate can require that the beneficiary pay the money back. Or they may offset the amount against what they get. If there is anything left over, there shouldn't be a reason to make them pay it back.
Can a private citizen sue for lending you money?
No, you can not sue somebody for lending you money. You can sue somebody if you have lent them money and they failed to pay it back.
What happens to back support when receiver dies?
The money is still owed to the estate. This is money that should have been available for the support of the child, and the estate is less because that money wasn't received. In all likelihood, the child is going to get the money at that point.
Can the IRS take my back taxes out of your son estate if im the executor?
They cannot take money out of the estate for your debts. However, they can place a lien on your inheritance from the estate. When the estate is distributed, your share could be taken.
Can children receive funeral money back from an estate?
Yes, particularly if the will states that the funeral expenses are to be paid by the estate, a very common clause.
Is it legal for a husband to take all the money for himself and kick back all the outstanding bills to the deceased wife's estate for her children to have to pay?
The estate has the responsibility to settle all debts, including medical bills. The estate can demand the money back from the husband. Once that is done, then remainder can be distributed to the beneficiaries.
Does an executor have a conflict of interest if he has borrowed a large amount of money from the deceased and has not paid it back to the estate upon due prior to deceased death?
There should not be a problem as long as everything is properly documented. The loan will count against their portion of the estate. If there is not enough money in the estate to pay the debts, they will have to pay them back.
When people take out a mortgage they must pay back the money?
Yes. The money must be paid back to the lender. If not paid back then lender can take possession of the real estate and sell it.
Your husband passed away leaving an estate He had 3 bank loans 2 unsecured your name is not on any loan docs Are you responsible for paying them back?
Well, the estate is responsible for paying them back, so the money will come out of the estate, which will mean that you will inherit less money from it. So in a way, you will be paying back the loans. That or the bank will put a lien on the property to secure their debts.
When can you expect to get your money back after spending your own money to pay bills on your deceased sister estate?
You need to file a claim against the estate. Provide the documentation and receipts to the executor. Your claim will be added to the others.
