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#1
11-05-2002, 11:06 AM
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 do I have groundsWhat is the name of your state? CA The buyer backed out after putting my self, my realtor and thier realtor through HELL. I have a new buyer but I wanted to know if I realease the deposit they (previous buyers) put in escrow (they said they would make my life miserable if I try to keep it), can I still take them to small claims court for the added house payment and expenses incurred while the house was off the market due to them agreeing to all aspects of the sales contract? I am now 1.5 months later signing a contract with new buyers and I can not have the house tied up in escrow for a deposit dispute.[b]them to small claims court ? Thanks in advance, autie |
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#2
11-05-2002, 11:12 AM
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Re: do I have grounds[quote]Originally posted by autie [b]What is the name of your state? CA The buyer backed out after putting my self, my realtor and thier realtor through HELL. I have a new buyer but I wanted to know if I realease the deposit they (previous buyers) put in escrow (they said they would make my life miserable if I try to keep it), can I still take them to small claims court for the added house payment and expenses incurred while the house was off the market due to them agreeing to all aspects of the sales contract? I am now 1.5 months later signing a contract with new buyers and I can not have the house tied up in escrow for a deposit dispute.[b]them to small claims court ? Thanks in advance, autie **A: you have no cause of action for damages unless the Buyer defaulted. If the Buyer was still within the contingency period for contract acceptance ie. home inspection, financing etc. you have no claim to the deposit or any damages period. |
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#3
11-05-2002, 11:24 AM
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do I have groundsthe buyer did default, they passed the contract 30 day close and wanted an extention with no fees. We removed all requests, such as fixing all items at the cost of $1700. They decided to change loan instutaes for a better rate (2 weeks into the 30 day window) and then had a problem qualifying. The original agreement was they were prequlified, 30 day close and buyer to pay all inspections. IF I give them back thier deposit will that action not allow me to take them to small claims court? Thanks in advance, Autie  Last edited by autie; 11-05-2002 at 11:50 AM. |
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#4
11-06-2002, 10:22 AM
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Re: Re: do I have grounds[quote]Originally posted by HomeGuru [b] Quote:
the buyer did default, they passed the contract 30 day close and wanted an extention with no fees. We removed all requests, such as fixing all items at the cost of $1700. They decided to change loan instutaes for a better rate (2 weeks into the 30 day window) and then had a problem qualifying. The original agreement was they were prequlified, 30 day close and buyer to pay all inspections. IF I give them back thier deposit will that action not allow me to take them to small claims court? Thanks in advance, Autie |
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#5
11-06-2002, 01:08 PM
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| Well why did you not tell us that in the first place? Anyway, once you return the deposit you have no cause of action. The deposit should be kept as damages for default. Have an attorney review your contract and advise you accordingly. |
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#6
11-06-2002, 01:15 PM
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| Quote:
Thx, Autie |
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#7
11-06-2002, 01:34 PM
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| [quote]Originally posted by autie [b]If I do not give the first buyer ( defaulted on the sale) the depost back, my house could be held up on the next sale due to them fighting for thier deposit. So if I understand you correctly, I do not have a case in small claims court because I relased the deposit that was held in escrow? Thx, Autie **A: in your previous posts, you asked if you should return the deposit. Now in this post, you state that you have already released the deposit. I am confused, so hire an attorney and confuse him or her. |
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#8
11-06-2002, 01:44 PM
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| [quote]Originally posted by HomeGuru [b] Quote:
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#9
11-07-2002, 11:41 AM
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| [quote]Originally posted by autie [b]There was a delay in the time you posted your response so I had to make a decision on returning the deposit. So if I understand you correctly, you do not want to answer my question of being able to file a small claims on them after releasing the deposit? You are being awfully harsh to me with your sharp tone. Do you not like helping the public on these issues? It is OK if that is the case but, for heavens sake don't take it out on the ones seeking the help...... **A: you made your post after the fact. Regardless, I already answered your question. |
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