Legal Question in Real Estate Law in California
Return of Buyer's Deposit
I am a Realtor. I represented a buyer on the purchase of a property. My client canceled the sale prior to removing their contingencies, but the Seller refused to release the deposit. They went to small claims (it was $5,000) and my client just got a Notice of Entry of Judgement stipulating that the plaintiff owed him $5,000 and that my client owed the other party nothing on their counter-suit of $4,100. The $5,000 is still sitting in escrow and I have the feeling that the other party will not sign a release of the deposit, despite the court decision. What do we do now?
3 Answers from Attorneys
Re: Return of Buyer's Deposit
Please contact my office at 714 363 0220 to set up an appointment. I would like to review your written documentation including any letters, notices, and lawsuits. We handle cases throughout California. We can review your documentation by fax and speak with you by phone.
Re: Return of Buyer's Deposit
Your principal can try to take the judgment to the escrow company, and ask them to release the funds. If that doesn't work, your principal apply to the court for a writ of execution, then levy on the escrow account. There are scores of books available to assist in the collection of small claims judgments. Your principal should visit the local law library to ask for "California Practice Guide: Enforcing Judgments and Debts" by The Rutter Group. That set of books will tell your principal exactly how to obtain the writ and enforce the judgment.
Re: Return of Buyer's Deposit
Your client should have included the excrow company as a defendant, then the order would have pertained to them as well. At this point, a writ of execution could be issued, and delivered to the title co.
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