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Real Estate Agent
Account Closed
  • Investor
  • North Haven, CT
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Commingling Question - Urgent!

Account Closed
  • Investor
  • North Haven, CT
Posted Apr 7 2018, 10:06

Hey BP members!  I have a question about a current situation I am in.  So heres the breakdown:

EMD amount of $1,000 - selling agent was provided with wiring instruction (account and routing for escrow account)

Buyer used email to "wire" EMD

Somehow (guessing they did not do a wire but a transfer using my email address) the funds went into my personal checking account

What now?  Kind of summed it up to 2 ways

1. Cut a bank check from my personal account made to the escrow account, deposit it - and keep all documentation of why/how this deposit came from my personal account

2. Refund buyers the EMD deposit of $1,000 and have them resubmit the funds to the proper account?

Any help would be appreciated - I am located in CT but believe commingling laws are the same across the board

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