Hi all, please let me know if this is the wrong subreddit to post, I need some advice.
I was a buyer in a commercial real estate transaction in North Carolina, Cabarrus County. I emailed a contract cancellation notice 6 minutes before the end of the examination period, so I could get my earnest money back. (Full earnest back during examination period no questions asked) We did it last minute because we really wanted to extend the examination period and the seller kept playing games, they sent an examination extension notice 3 minutes before the examination period was over. No realtors are involved. It is me the buyer, seller, seller's attorney, my title attorney.
The seller's attorney does not want to release my earnest money and he is arguing I did not give proper notice but I did. I misspelled the attorney's email address but I emailed the seller. The seller's originally listed email from the contract was deactivated and bounced back, I immediately wrote another email with another email address the seller has used before end of examination period. I feel like I am in the right, my title attorney thinks I'm right but also thinks the opposing attorney has a point for some reason. Title said they cannot release funds until both parties sign off.
My question is, is it common for sellers to come up with BS technicality excuses to not release earnest money in the state of NC? I have never experienced this in other states. What prevents sellers from doing that if they want to be greedy or spiteful?
I understand if title doesn't resolve the dispute in 90 days, it will go to court and the court will arbitrate. I will not settle a partial amount with the seller, I want my full earnest money back.
I am consulting lawyers and my title attorney but I am also getting opinions here.
What would you do in this case to get the earnest money back ASAP?
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source https://www.reddit.com/r/RealEstate/comments/16u9m1z/real_estate_earnest_money_disputes_in_north/
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