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Marv - December 12th, 2007 10:07 AM

A broker cashed my $7,000.00 check of earnest money for property I wanted to purchase. The property was vandalized before closing. The deal was off and the seller and I signed a release for my money to be returned to me. I found out from the seller’s agent that my broker kept the fact that the seller signed the release for me to get my money back. Now my broker won't give me my money back. I believe he spent my money. Is this considered misappropriation of funds? Is it criminal, or civil?

William - September 19th, 2008 7:56 AM

That depends, were you shown around by the sellers agent/company? If so, I recommend you get your own agent, not associated with who showed you around. However, if the agent that showed you the property is not involved with the seller, it's good business to deal through them, unless you have some personal or professional reason not to, then just communicate that.


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