Legal Question in Real Estate Law in California
My parents, the seller, want to cancel escrow. There is 30 days left on a 120 day escrow. It is a 2 million dollar all cash deal (not sure if funds are in escrow yet)., all contingencies have been removed. Can they stop the sale and what could be the legal liability involved?
Asked on 6/01/14, 7:11 pm
2 Answers from Attorneys
Joel Selik
www.SelikLaw.com
You can force the sale by a lawsuit or damages from their actions.
Answered on 6/01/14, 7:30 pm
Anthony Roach
Law Office of Anthony A. Roach
If the contingencies have been removed and the seller refuses to close escrow, then the seller is in breach. The buyer can sue for damages or elect to have the court order specific performance of the contract.
Answered on 6/02/14, 8:45 am
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