Can't Get Good Faith Deposit Back

[msflorida]

What is the name of your state?[TIMES ROMAN What is the name of your state?

Hi I'm msflorida from FLORIDA

Help, I placed a "Good Faith Deposit" on a property. The seller's husband who is an attorney, insisted he would represent both of us. Being somewhat concerned I gave the Seller the check. At the first viewing my sister went with me, and is witness to all the enclosed scenarios. Since the Seller had no documentation with her showing she owned the property, I insisted she write an agreement with me before I left the deposit.

The agreement basically stated that " IF THE PROPERTY DID NOT APPRAISE, OR IF THE BUYER CAN NOT GET FINANCING THE BUYER WILL GET HER DEPOSIT BACK ", per the input her Attorney husband gave her over the phone. Went to his office and he made the "Contract For Sale". Karma stepped in and my bank returned, (I was out of town, bank could not reach me), the check to the Seller saying signature unverifiable.

The Seller's husband was in a big rush and immediately contacted me and said that I did not place the balance of the deposit within 10 days so he is giving the "Good Faith Deposit to his wife. He did not know that the bank had returned the check.

When he found out what had happen, he was very upset, but still wanted to go through with the sale, but only with a cashier's check. But this time learning from my mistake, I found a Title Co. called XXXXX Law Firm. Both the Seller and her husband thought I had hired an attorney and insisted that I could save money by letting him be both our attorney's and that he was not going to charge me. I said ok but insisted on giving the cashier's check to the Title Co. He was steamed but went alone.

When we entered a new contract instead of the original asking price we all decided to boost the price to include my 10% down payment which was only required by the Condo Association. The Sellers were not even aware of this requirement until I mentioned it to them. But went alone and added the 10% down into the "Contract For Sale".

The Seller's husband the attorney was still upset about the first deposit check I gave him, so this time he added a statement. "If the Buyer does not put 10% down in 10 days, the Seller has a right to 10% of the deposit in Liquidated damages". I asked why did he put that statement, his reply was "In case you change your mind". So I added a statement, "Balance due on deposit if property appraises". He became belligerent spitting and carrying on "I AM THE ATTORNEY HERE", and added "then balance will be adjusted.

The hurricane season was the worst in the history of Florida in 2004. The property could not be appraised in 10 days. I called crying to the Seller each and every time a storm was approaching, because the bank was advising not to appraise. If the property is appraised now, we would have to have an additional fee paid for a new appraisal, so it would be best to wait until the season ended. Matter of fact no closings were being done in all of Florida because so many storms were hitting the state. The Seller understood and stated,” I understand, we cannot control the weather". The Contract For Sale was entered into on 8/31/04 and the property was not appraised until 10/13/04.

When the appraisal was done the property did not appraise for the asking price. And because there were some issues with the kitchen being wallpapered with live paper tree bark untreated, and shellacked over. The Appraiser stated the property should be reported to the health department. Because it is a health hazards especially in the kitchen where food is prepared. It could cause future breathing problems. The Lender wanted to do 100% financing only, and did not want me to put the 10% down in case I became ill and could not work because of the health hazards, which may or may not cause me to not be able to pay my mortgage obligations.

I reported everything to the Seller's husband, and authorized the release of the appraisal to the them. The Seller's husband agreed over the phone to go with the appraised value, but never prepared new contract. I continued to call the Seller's husband. On or about the November 1, 2004, I spoke with the Seller's husband to find out what was the status of the paperwork, and he hung up on me, and has not been able to speak with them since.

I then called the Title Co. and asked for my money back. The Title Co. promptly prepared a check for my full deposit in the amount of $5,000. On November 5, 2004, the Title Co. called me and told me the placed a STOP PAYMENT on the check. I asked them why? They responded because the Seller husband wants the 10% liquidated damages in the amount of $1,300. I asked the Title Co. Why wasn't all this found out before the check was issued to me?

So my question(s) is can the Title Company place a stop payment on check and not release it with a new check for over a year? What is the Florida Law in regards to Stop Payment of a check as it may apply to my situation?

The Title Co. told me they had no choice but to interplead and place the money in the courts but did not file the complaint until August 4, 2005. Is there a responsibility for professionalism general diligence?

According to the standard real estate Contract for Sale, allow the deposit to be returned if funding cannot be provided or found, not to the Buyers fought? I went into the Contract with credit approval to purchase a home.

If the property did not appraise, shouldn't I get my deposit back, with no deductions?

I am suing for $5,000 + the return of the "good faith deposit, compensatory and punitive damages, mental anguish, loss of wages, pain and suffering, storage and moving cost, which resulted in homelessness, and The Stop Payment against the Title Co. in small claims court. Do I have a good chance of winning?

Since the contract ended after the appraisal on Oct. 13, 2004, (according to the Title Co., because I received no notice form the Seller) and the Seller took no action(s) to file immediately after the 10 days for the liquidated damages, did he forfeit the opportunity to do so?

Doesn’t this prove the Seller was aware and agreed to wait for the appraisal?

Does the Seller have the right to go back and reclaim the liquidated damages over 65 days after the fact?

I am also suing the Seller and her husband for breech of contract, no legal representation upon his insistence. Husband representing both Seller and Buyer, compensatory and punitive damages, mental anguish, pain and suffering. Do I have a good chance of winning?

Since this two different issues but reference by the original complaint by the Title Co., I asked that both lawsuits be consolidated, which was approved by the Judge.

If I do not win should I appeal?

I am so, so nervous, after all I am going up againts 2 attorneys. Please, Please help me I am having constant migraines from this big problem in my life . After all all I wanted was the american dream. And the only way I have the opportunity is through my husband's death, he died from Agent Orange, I am a surviing spouse.

I've don a lot of research on my own, buit I still feel in adequte, ill prepared

Can someone please help me

Sincerely

Msflorida

[HomeGuru]

Originally Posted by msflorida

What is the name of your state?[TIMES ROMAN What is the name of your state?

Hi I'm msflorida from FLORIDA

Help, I placed a "Good Faith Deposit" on a property. The seller's husband who is an attorney, insisted he would represent both of us. Being somewhat concerned I gave the Seller the check. At the first viewing my sister went with me, and is witness to all the enclosed scenarios. Since the Seller had no documentation with her showing she owned the property, I insisted she write an agreement with me before I left the deposit.

The agreement basically stated that " IF THE PROPERTY DID NOT APPRAISE, OR IF THE BUYER CAN NOT GET FINANCING THE BUYER WILL GET HER DEPOSIT BACK ", per the input her Attorney husband gave her over the phone. Went to his office and he made the "Contract For Sale". Karma stepped in and my bank returned, (I was out of town, bank could not reach me), the check to the Seller saying signature unverifiable.

The Seller's husband was in a big rush and immediately contacted me and said that I did not place the balance of the deposit within 10 days so he is giving the "Good Faith Deposit to his wife. He did not know that the bank had returned the check.

When he found out what had happen, he was very upset, but still wanted to go through with the sale, but only with a cashier's check. But this time learning from my mistake, I found a Title Co. called XXXXX Law Firm. Both the Seller and her husband thought I had hired an attorney and insisted that I could save money by letting him be both our attorney's and that he was not going to charge me. I said ok but insisted on giving the cashier's check to the Title Co. He was steamed but went alone.

When we entered a new contract instead of the original asking price we all decided to boost the price to include my 10% down payment which was only required by the Condo Association. The Sellers were not even aware of this requirement until I mentioned it to them. But went alone and added the 10% down into the "Contract For Sale".

The Seller's husband the attorney was still upset about the first deposit check I gave him, so this time he added a statement. "If the Buyer does not put 10% down in 10 days, the Seller has a right to 10% of the deposit in Liquidated damages". I asked why did he put that statement, his reply was "In case you change your mind". So I added a statement, "Balance due on deposit if property appraises". He became belligerent spitting and carrying on "I AM THE ATTORNEY HERE", and added "then balance will be adjusted.

The hurricane season was the worst in the history of Florida in 2004. The property could not be appraised in 10 days. I called crying to the Seller each and every time a storm was approaching, because the bank was advising not to appraise. If the property is appraised now, we would have to have an additional fee paid for a new appraisal, so it would be best to wait until the season ended. Matter of fact no closings were being done in all of Florida because so many storms were hitting the state. The Seller understood and stated,” I understand, we cannot control the weather". The Contract For Sale was entered into on 8/31/04 and the property was not appraised until 10/13/04.

When the appraisal was done the property did not appraise for the asking price. And because there were some issues with the kitchen being wallpapered with live paper tree bark untreated, and shellacked over. The Appraiser stated the property should be reported to the health department. Because it is a health hazards especially in the kitchen where food is prepared. It could cause future breathing problems. The Lender wanted to do 100% financing only, and did not want me to put the 10% down in case I became ill and could not work because of the health hazards, which may or may not cause me to not be able to pay my mortgage obligations.

I reported everything to the Seller's husband, and authorized the release of the appraisal to the them. The Seller's husband agreed over the phone to go with the appraised value, but never prepared new contract. I continued to call the Seller's husband. On or about the November 1, 2004, I spoke with the Seller's husband to find out what was the status of the paperwork, and he hung up on me, and has not been able to speak with them since.

I then called the Title Co. and asked for my money back. The Title Co. promptly prepared a check for my full deposit in the amount of $5,000. On November 5, 2004, the Title Co. called me and told me the placed a STOP PAYMENT on the check. I asked them why? They responded because the Seller husband wants the 10% liquidated damages in the amount of $1,300. I asked the Title Co. Why wasn't all this found out before the check was issued to me?

So my question(s) is can the Title Company place a stop payment on check and not release it with a new check for over a year? What is the Florida Law in regards to Stop Payment of a check as it may apply to my situation?

The Title Co. told me they had no choice but to interplead and place the money in the courts but did not file the complaint until August 4, 2005. Is there a responsibility for professionalism general diligence?

According to the standard real estate Contract for Sale, allow the deposit to be returned if funding cannot be provided or found, not to the Buyers fought? I went into the Contract with credit approval to purchase a home.

If the property did not appraise, shouldn't I get my deposit back, with no deductions?

I am suing for $5,000 + the return of the "good faith deposit, compensatory and punitive damages, mental anguish, loss of wages, pain and suffering, storage and moving cost, which resulted in homelessness, and The Stop Payment against the Title Co. in small claims court. Do I have a good chance of winning?

Since the contract ended after the appraisal on Oct. 13, 2004, (according to the Title Co., because I received no notice form the Seller) and the Seller took no action(s) to file immediately after the 10 days for the liquidated damages, did he forfeit the opportunity to do so?

Doesn’t this prove the Seller was aware and agreed to wait for the appraisal?

Does the Seller have the right to go back and reclaim the liquidated damages over 65 days after the fact?

I am also suing the Seller and her husband for breech of contract, no legal representation upon his insistence. Husband representing both Seller and Buyer, compensatory and punitive damages, mental anguish, pain and suffering. Do I have a good chance of winning?

Since this two different issues but reference by the original complaint by the Title Co., I asked that both lawsuits be consolidated, which was approved by the Judge.

If I do not win should I appeal?

I am so, so nervous, after all I am going up againts 2 attorneys. Please, Please help me I am having constant migraines from this big problem in my life . After all all I wanted was the american dream. And the only way I have the opportunity is through my husband's death, he died from Agent Orange, I am a surviing spouse.

I've don a lot of research on my own, buit I still feel in adequte, ill prepared

Can someone please help me

Sincerely

Msflorida

**A: I am only interested in the facts and not your emotional state and idealogy.

[pojo2]

Suggestion, cut this puppy to 1/3 the length it is now and repost it.

I suspect but honestly I got lost, that adding that extra 10% to the sells price may have done in your financing.

IF you choose to go up against 2 Attornies without your own then you have a very foolish client.

And finally

I am suing for $5,000 + the return of the "good faith deposit, compensatory and punitive damages, mental anguish, loss of wages, pain and suffering, storage and moving cost, which resulted in homelessness, and The Stop Payment against the Title Co. in small claims court. Do I have a good chance of winning


You can skip the two I have in bold right off the bat.