The Occultist
Senior Member
What is the name of your state? Arizona
Hello, all; long time no see!
I recently purchased a business. The important terms of the sale for this question are:
1) Seller would carry the balance of the sale with a down-payment.
2) Seller would be available for (3) weeks for training and support.
3) Seller required to turn over any monies received from credit card sales while waiting for the processor to transition to my accounts.
The seller owes me for 2 days worth of credit card sales. I have attempted to communicate with the seller, but he was around for only one day (instead of the three weeks) before disappearing. Calls go straight to voicemail, and his box is full. He is not responding to text messages. Can I simply withhold my payments through escrow until the balance he owes me is accounted for? Should I mail in the escrow "coupon" with an invoice reflecting that the "payment" was deducted from what he owes me until it has been "paid in full"? or do I need to pay my full balance each month to escrow and find a different way to collect what is owed to me? Please advise and let me know if there's any more information I need to provide.
Thank you!
Hello, all; long time no see!
I recently purchased a business. The important terms of the sale for this question are:
1) Seller would carry the balance of the sale with a down-payment.
2) Seller would be available for (3) weeks for training and support.
3) Seller required to turn over any monies received from credit card sales while waiting for the processor to transition to my accounts.
The seller owes me for 2 days worth of credit card sales. I have attempted to communicate with the seller, but he was around for only one day (instead of the three weeks) before disappearing. Calls go straight to voicemail, and his box is full. He is not responding to text messages. Can I simply withhold my payments through escrow until the balance he owes me is accounted for? Should I mail in the escrow "coupon" with an invoice reflecting that the "payment" was deducted from what he owes me until it has been "paid in full"? or do I need to pay my full balance each month to escrow and find a different way to collect what is owed to me? Please advise and let me know if there's any more information I need to provide.
Thank you!