Legal Question in Real Estate Law in California

Re: how do my husband and I get our money out of escrow when the seller will not

You have essentially two possible routes. You can get your money back and forgo the purchase. Or, if you want the house at the price the seller agreed to, you can sue for 'specific performance' to compel the seller to go through with the deal.

In a case like this, I would suggest going first to the professionals (if any) you have been dealing with and through, i.e. the real estate agent(s) and broker(s) and/or the escrow officer. All these people are supposedly trained and are under a legal duty to deal with you fairly. This would be your primary route if you just want your money back.

If you want to force the seller to complete the sale, you will need an attorney. Find a lawyer who does a lot of real estate work in your county. You should also see a lawyer if the agent or escrow holder won't explain things to your full satisfaction and return ALL of your money.

If you are not in default-- i.e. if you were ready willing and able to finance and close the deal -- you are entitled to a full refund of your deposit (minus perhaps some small fees). If you don't get it, see a lawyer.

You can begin action as soon as the other party does something wrongful or fails to do something he is obliged to do under the purchase agreement. If your strategy involves use of a lawyer, the sooner you place the matter in her/his hands, the better he/she will be able to serve you.

Re: how do my husband and I get our money out of escrow when the seller will not

I will assume from your question that you are not interested in pursuing a lawsuit to

force the seller to sell to you. I am also assuming that the seller has no valid reason for not selling. If the seller has wrongfully breached your contract, you are not only entitled to your deposit back, but also reimbursement for your out-of-pocket expenses (i.e. loan fees, appraisal fees, escrow fees, etc.).

How you get your money will depend on what your purchase and sale contract and/or escrow instructions say. The documents may require you to arbitrate the dispute, rather than allowing you to file a lawsuit. The documents may or may not provide for recovery of your attorneys' fees incurred. If you had your own real estate broker in the transaction, he or she may be willing to negotiate for the return of your deposit, but unless the seller voluntarily releases the money from escrow, some sort of legal action will be necessary. If you reside in Southern California, we would be happy to discuss the matter with you further. Feel free to visit our website, www.labusinesslawyer.com.

Re: how do my husband and I get our money out of escrow when the seller will not

There are a few possibilities. You can sue for breach of contract, Specific Performance (forcing the seller to go through with the sale) or do nothing and get your money back. I would highly recommend hiring an attorney to assist you with this matter!!