Buyers cold feet

[longsally111]

What is the name of your state? South Carolina

This is an update to earlier post Recap: People saw our home, made an offer, we countered and they countered back and fax'd over contract with copy of ernest money check. We initialed and gave to our agent. The next morning, they stated they wanted out. My agent sent over the final contract at 3pm that day and they sent an e-mail the next day stating the contract was null and void and giving the people back their ernest money.
We went to court today. The judge pointed out to the buyers agent that they would not adhere to the verbal agreement to buy the house but yet we were supposed to accept their verbal that they were cancelling. Then, it was pointed out that they had received back the final contract before they sent the e-mail to us cancelling. The judge said that we will recieve his judgement in the mail in a few days but it looks right now like we won.

 

[Ozark_Sophist]

Good! Have fingers crossed.

 

[longsally111]

We Won

Just to let everyone know: Even though just about everyone on this board wrote that I did not have a case, the judge ruled in our favor siting case windham vs honeycutt which says you cannot verbally modify a written contract. We were awarded the 1000.00 ernest money plus 90.00 in court costs.

 

[longsally111]

what now

I would like to collect on the judgement. If these people do not want to pay, am I allowed to charge interest like collection agencies do and if so, how much and how do I go about collecting it?

 

[salvatore1]

How does 1.5% monthly sound?

Collection agency will likely take 30% of that $1000 to collect, but I would do it based even on principle.

 

[4Labs]

I would like to collect on the judgement. If these people do not want to pay, am I allowed to charge interest like collection agencies do and if so, how much and how do I go about collecting it?

I doubt it as you are only entitled to what the court awarded you. Call the court to be sure.

 

[longsally111]

here it is

well, the judge wrote his order on March 30th. On April 8th, husband called the agent to ask about getting the money. The agent said they had turned it in to corporate and that they had 30 days to appeal anyway. My husband told her that if they appealed and dragged this out any longer ( it Started October 25th) that we would turn them into the real estate commission and attempt to get their licenses. She said thank you and hung up.
In 2 weeks, if we have not gotten a check, i will send them a return receipt letter giving them 5 business days to remit before I make the official report and put the judgements on their credit. Other than that, there is nothing else we can do.

 

[LindaP777]

I would like to collect on the judgement. If these people do not want to pay, am I allowed to charge interest like collection agencies do and if so, how much and how do I go about collecting it?

Usually when you are awarded judgement (at least in my state) they say "x$ and X% from X date", (I think it was like 10%) so you get a little, but not much.

 

[LindaP777]

The agent said they had turned it in to corporate and that they had 30 days to appeal anyway.

I seriously doubt they will appeal. They are just waiting until the last moment to pay.

If they do appeal, usually the higher court has stricter guidelines, not like small claims. You might need an attorney.

 

[longsally111]

Really now

You would think that Prudential would not act this way. I mean, they acted inappropriately, got caught, ignored our warning letters sent by an attorney, didn't respond to our repeated warnings we would sue, fought us in court( really stupid) and now are holding on again until 4/30. I mean, give me a break Why not just pay us and be done with it already?
I sued the agent and broker so its not like I can go over the agents head. I would not even know who to call, what a pain.

 

[longsally111]

Wow

We Got Paid>>>>>>>>>yeah!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[nolimits]

Congrats on getting paid....I'm sure they were just waiting. Plus even though this is a big deal to you, it's not to them. They have deep pockets they can use for attorney fees if required or even moreso pay it out w/o losing even a wink of sleep.

Too bad it was chaotic, but at least there was justice in the end. Hehe, you should see the smile it brings to my face when I get my measely $50 check every 2-3 months for the jerk that broke in my vehicle and stole some stuff BUT got caught!!! It honestly joys me to know he is sitting in jail making a few bucks a day to pay me back and the others he got associated with at the same time. Justice is sweet when it pays out for you, that is for sure!

 

[longsally111]

haha

I have to agree with you!!!!!!!!!