Hello,

My friend is in the Air Force and was forced to relocate to a different state. He was not able to keep his house so he listed it with a real estate company for a short sale. That real estate company was able to find a buyer who was going to lease the property but with the option to buy it within a year. The contract indicated that the tenants (buyers) were to close on or before Sept of 2011 or they will lose their deposit of $3500. well, they could not obtain an approval from a lender, so they lost their deposit. However, the problem here is my friend's realtor decided that they're keeping $1,500 of the $3,500 deposit. My friend is trying to get his full $3500 but the realtor refuses to do so. I don't see anything on the agreement that states the realtor was entitled to any part of the deposit. What are your thoughts on this? What does my friend need to do in order for the realtor to give him back the full deposit amount?

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 Tags: earnest money deposit, realtor, seller, buyer, tenant, deposit

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