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#1
04-15-2004, 08:38 PM
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 Must we refund depositWhat is the name of your state? California  My son signed an agreement with a party who wished to purchase his home. It was a simple agreement. It stated the purchase price of $184,000.00 with $2000.00 down the remainder to be paid at close of an 30 day or sooner escrow. He wrote a check for the 2,000.00 to my son. This person said he had the money. No subject clauses were written in the agreement. The house was sold as-is. He poped in while my son was waiting to list the house with a realtor who came at the same time this person did. This person said oh please don't list this house I want it. We put the house in escrow the next day. 2 days later he called and said he did need to get a 2nd on his house. In the mean time I had told 5 people the house had sold already, and of course my son didn't list it with the realtor. 10 days went by and he called said he couldn't get enough to pay my son the remainder at close of escrow . We tried to carry a second on it for him and he didn't want to do that. Is my son obligated to refund the deposit? |
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#2
04-15-2004, 10:14 PM
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| Without reading this 'simple' agreement there is no way anyone can advice you on the deposit. We could guess, but do you want to take a chance on a guess? Take the contract to a real estate attorney for an opinion. It's much less than $2,000 AND a lawsuit. |
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#3
04-17-2004, 09:00 AM
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| simple agreement, simple response: Refund the deposit. |
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#4
04-17-2004, 09:09 AM
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| I agree with HG. If the house is as 'easy to show' as you claim, you really don't want this 'buyer' to file legal action and tie the property up in court for a year or more do you?? Simply, get signatures of all parties on a 'cancellation' of the contract and refund the deposit to the 'buyer'. Get this behind him and move on.
__________________ There are at least 17 lawsuits (!!) pending in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution). Why has he spent over $1.35M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport! |
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#5
04-17-2004, 09:20 AM
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| JETX you early bird. |
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#6
04-18-2004, 11:19 AM
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| Hey clydyboy, the post reply feature works like a charm |
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#7
04-18-2004, 11:19 AM
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| sorry I made a new thread  i'm new to this site. Tried to do this and it didn't go through for some reason. |
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#8
04-18-2004, 11:49 AM
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