Legal Question in Real Estate Law in California
Breech Of Contract
I just purchased a piece of property and part of the contract was that the seller was to give me $4700. outside of escrow when the house closed.
It's been 2 weeks and I haven't recieved the money and can't get answeres from the seller or thier agent.
What recourse do I have?
5 Answers from Attorneys
Re: Breech Of Contract
Under $5,000 can sue in small claims court. Do written demand for payment first.
Joel Selik
www.4thelaw.com
Re: Breech Of Contract
The seller has your money and you want it. The answer is you'll have to sue the seller. Small Claims Court goes up to $5,000.00. So that's a good place to start.
Re: Breech Of Contract
the question is, why was thid done outside of escrow? If it was done to hide the fact from your lender, everyone concerned could be liable for defrauding the lender.
Be careful.
Re: Breech Of Contract
Your chance of success in small claims depends upon three things:
(1) What is the quality of your proof that you are owed money? If you have it in writing, your chances are better; if it's oral, you case is weak.
(2) Is there any hint of fraud or deception in passing money outside escrow? The court will not assist a party in perpetrating a fraud on a lender or taxing authority.
(3) How deep are the seller's pockets? If he is broke or has hidden his assets, you may get a judgment but never be able to collect.
Re: Breech Of Contract
You may have an action for breach of contract. If you fax me all of your contracts and other letters and documentation to 714 363 0229, I will provide you with free consultation.
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