What is the name of your state? California
I opened escrow to purchase a duplex in downey, ca. I gave an initial deposit of $5000.00 I also was forced to remove all contingencies ...basically the one that states until funding of loan...anyhow, it turned out that before the closing date, my lender whom i trusted was telling me..yes, im getting docs tomorrow..sure, the following day tells me that he can't do the loan because I lost my job..however, in the contract i had put my name plus the "et. al" meaning i can add someone else...such as my wife... nonetheless, the sellers agent talked to my lender and my lender said he couldnt' do it because i didn't have a job...so she went ahead and cancelled my escrow...but under the contract it says mutual agreement...and i didn't agree to a cancellation since I went to another lender and got approval providing escrow instructions and title. my new lender was trying to get in contact with the escrow company but the company was not cooperating since the sellers agent had another buyer...so we never went to mediation...nor arbitration...apparently the sellers agent opened another escrow through another company and sold the property for same price. Now, the seller has served me through small claims court for $5000.00 of my initial deposit. Now, yes i know i initialed the "liquidative damages" however, it also states that if there is a dispute...it should be done via mediation or arbitration prior to court action. Now do i have a chance on recovering my deposit. I mean, why is the seller being greedy...she already sold the property in which i still wanted to buy...i was offering to pay for a months mortgage payment for the delay. but they didn't want to listen..and now shes sueing me to keep my deposit. what is the judge going to say? Can i counter sue her before my court date which is in 6 days from today.
I opened escrow to purchase a duplex in downey, ca. I gave an initial deposit of $5000.00 I also was forced to remove all contingencies ...basically the one that states until funding of loan...anyhow, it turned out that before the closing date, my lender whom i trusted was telling me..yes, im getting docs tomorrow..sure, the following day tells me that he can't do the loan because I lost my job..however, in the contract i had put my name plus the "et. al" meaning i can add someone else...such as my wife... nonetheless, the sellers agent talked to my lender and my lender said he couldnt' do it because i didn't have a job...so she went ahead and cancelled my escrow...but under the contract it says mutual agreement...and i didn't agree to a cancellation since I went to another lender and got approval providing escrow instructions and title. my new lender was trying to get in contact with the escrow company but the company was not cooperating since the sellers agent had another buyer...so we never went to mediation...nor arbitration...apparently the sellers agent opened another escrow through another company and sold the property for same price. Now, the seller has served me through small claims court for $5000.00 of my initial deposit. Now, yes i know i initialed the "liquidative damages" however, it also states that if there is a dispute...it should be done via mediation or arbitration prior to court action. Now do i have a chance on recovering my deposit. I mean, why is the seller being greedy...she already sold the property in which i still wanted to buy...i was offering to pay for a months mortgage payment for the delay. but they didn't want to listen..and now shes sueing me to keep my deposit. what is the judge going to say? Can i counter sue her before my court date which is in 6 days from today.