Legal Question in Business Law in California

Re: Escrow is cancelled due to breach of escrow, who has default.

The closing date is probably neither the date printed on each page nor the date on which buyer deposited cash to open the escrow. The closing date should be clearly and expressly set forth in the instructions--or, failing this, there should be a clear formula for determining the closing date defined somewhere in the deal documentation.

If there is uncertainty as to the closing date, after reading all the documentation carefully, someone has been very sloppy in drafting the documents.

Who is the escrow holder? That party is not necessarily responsible for mediating all disputes between the parties to the escrow, but they should not have accepted the role without some clear instructions. Ask the escrow holder what the closing date was! If he/she/they don't know, you would be entitled to ask why not.

Were either or both parties represented by brokers or attorneys in putting this deal together? If someone represented you, can they answer your question? Who wrote up the papers in the first place?

It seems to me that the seller and/or escrow holder owe you an explanation as to why your funds have not been returned. There may be a very good reason, but you are entitled to a reply to your inquiry or request.

If you are unable to get prompt and satisfactory answers, see a business attorney. My guess is you didn't use one in getting into this deal, but should have. Get one now before it's too late.