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Cancelled Escrow , Seller Refuses to Release escrow Funds

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fsnyder24

Junior Member
except the offer? I don't understand what you mean here.
They responded to our offer within 25 minutes. Everything else, forms signing they took DAYS to respond with. We had everything, from our acceptance, to escrow, to inspection copleted within the first week. I was trying to say she lagged so much, besides when she accepted the offer.


seriously? $5k on a quarter million dollar home? Did you miss a 0?
That was the amount to open escrow, not the final close of escrow costs, the final price would have been around $54,000.


thank you so much for all your information so far. So from the way you see it, we had no rigth to cancel, until i told you about the contingency on the repairs/inspection. But since there is that contingency, I have evry right to get my money back, but I must do so in Small Claims Court.

I have heard that within the 17 day contingency the BUYER doesn't need to have any reason to back out of the deal, is this true? And could you please explain to me why or why not.


Thanks again.
 


justalayman

Senior Member
I have heard that within the 17 day contingency the BUYER doesn't need to have any reason to back out of the deal, is this true?
not per the contract you provided. It it would have to be based on a contingency or failure to perform.


So from the way you see it, we had no rigth to cancel, until i told you about the contingency on the repairs/inspection. But since there is that contingency, I have evry right to get my money back, but I must do so in Small Claims Court.
if they did not act, or at least agree to act since it would be impossible to actually make the repairs prior to the inspection period, to allow you to remove the contingency, then you would have a right to cancel. If they agreed to your demands needed to remove the contingency, they I see no basis to cancel. Again, I didn't see the requirement but typically, it would have to be in writing to be a valid agreement.
 

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