Getting deposit back

[M:SpilotISTC12]

On 11/20/2020 I signed for a small 25 pt VB contract with fidelity. It was sent for ROFR on 11/24 along with my deposit. Months passed and various emails to the broker had no response. I called the First American title on January 6th and they said they would try to reach to fidelity. Finally I called the broker again and got a response a couple days later. Apparently they didn't send it in for ROFR until some day in January. On January 22nd I passed ROFR.

However it says in my contract that closing must take place within 75 days from when the contract was signed. That brings us to tomorrow. Now I'm so fed up with this whole process that I want my full deposit back. How would I go about getting it back?

 

[Sandisw]

Call and email them that you intend to cancel the sale once the official date in your contract has passed since it is evident you will not be closing on time.

Let them know when and how to return your deposit.

 

[princesscinderella]

It definitely needs to be put in writing so make sure it’s emailed to the broker and I’d cc the title company too. That way it’s time stamped.

 

[supersnoop]

On 11/20/2020 I signed for a small 25 pt VB contract with fidelity. It was sent for ROFR on 11/24 along with my deposit. Months passed and various emails to the broker had no response. I called the First American title on January 6th and they said they would try to reach to fidelity. Finally I called the broker again and got a response a couple days later. Apparently they didn't send it in for ROFR until some day in January. On January 22nd I passed ROFR.

However it says in my contract that closing must take place within 75 days from when the contract was signed. That brings us to tomorrow. Now I'm so fed up with this whole process that I want my full deposit back. How would I go about getting it back?

Don't allow spite to cheat you out of a good contract. I had to extend the closing date on a contract due to covid. Alternatively, I did cancel a contract when the seller was dragging their feet, but I didn't really need that contract.

 

[M:SpilotISTC12]

I didn't really need that contract.

Thats the position I'm in. I don't really need it. The only way I would take the contract now is if they pay all the fees on the contract, admin fee and closing costs. They probably won't do that so I'm out.

 

[M:SpilotISTC12]

This morning I emailed my agent, broker and title company. I presented them with two options to resolve this issue:

Option 1- On November 24th I put down a $2500 deposit. Refund me the $430 closing costs and $195 admin, totaling $625 to my card. Bringing the total to only $1750 for the contract. The remaining $125 will also be refunded to my card, totaling $750 refunded. The seller shouldn’t lose out on any of this. My funds will only go towards the contract, no other fees or costs.

Option 2- Refund my full $2500 deposit back to my card immediately.

Later today I will be calling them to be sure they got the email and came to a decision. Updates will be coming! I doubt they will go with option 1 but figured it was worth a try.