If a tenant’s HOA application is denied and the lease will not move forward, the deposit held in escrow by Dalton Wade Real Estate Group must be formally released before funds can be returned.
Agents should complete the Deposit Escrow Release Form to authorize the release of the funds. This is attached below.
This form authorizes Dalton Wade to release the escrowed funds.
Our Finance Team will also need the following information for the person receiving the refund:
Full Name
Email Address
Phone Number
If available, please also provide documentation showing the cancellation or proof of deposit for the transaction.
Once the completed Deposit Escrow Release Form and required information are received, our Finance Team can issue the refund.
Refunds are typically processed via eCheck for faster delivery.
If the lease was never finalized, there may not be cancellation documents in Dotloop. In that case, coordinate with the listing agent or their brokerage regarding any lease cancellation documentation they may require.
The escrow release form is still required regardless of whether the funds are being returned to the tenant or landlord.