Legal Question in Business Law in Arizona

I am trying purchase a business and the offer was accepted and deposit was made to the escrow, but the seller's broker called me 3 days later and said that she had a bad feeling but it is in the hand of the landlord... I have been waiting for past 3 weeks, but I had a strange feeling so I called the seller's broker and asked if there was another offer, and she said that the previous offer before me came back and made a back up offer after they cancelled and the landlord now had both document and the landlord will have to decide between us. is this legal? can the seller accept and both offer and let the landlord decide... it seems like the other buyer has paid more for the business and it seems like they are pushing towards the other buyer... they kept all this a secret from me for the past 3 week. is this legal?


Asked on 3/22/14, 7:07 pm

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

Did you and the seller sign a purchase contract? Did you sign escrow instructions? If so, the seller has probably breached the contract, from the few facts you have provided and without knowing the terms of the contract. You may have the right to withdraw or cancel your contract and get your deposit back. You should retain counsel to see what the facts are and how best to proceed, either to complete the purchase or cancel.

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Answered on 3/23/14, 10:49 pm


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