What to do if a seller is unresponsive when signing a termination letter?

[Francis Nguyen]

Hey BP,

I have a situation where a seller has not been responsive and is needed to sign a termination of agreement for in order to have my security deposit released from the title company. Is there any advice that can be offered or other way to do so in Philadelphia? Thanks!

[Stuart Udis]

As Alan shared, if you used the PAR agreement there is language that pertains to the release of deposit money. However, regardless of whether the deposit money is held by a brokerage or a title company, the same terms outlined in the PAR agreement apply. Even if you did not use the PAR agreement there is likely language that pertains to release of deposit money in the event the transaction is not completed.  Many escrow agents opt  not to release the funds without written acceptance from both parties, even if the timelines in the agreement suggest the funds should be released. This is due to fear of liability on the part of the escrow agent, so you should never enter an agreement expecting the release of escrowed funds solely based on the directions contained within the sales agreement.