Legal Question in Real Estate Law in Florida

Buyer wants money back from a legal contract on a home.

I sent a person a Bill of sale on a piece of property describing everything that he was getting with it. My wife and I both signed it, he then signed it with his wife and FAXed it back.

He had sent his brother-in-law to inspect the property. He then sent me $10,000 (after his ''representative'' ok'd the place)with a remaining $45,000 to be paid in 30 days or less. Fifteen days after he had signed the contracts (by FAX) and wired me the money, he came to see the property and wants out of the deal. They nit-picked it to pieces and stated I mis-represented the place.

I had originally told him the $10k was going to another property before it was sold as soon as I got it from him.

I no longer have the money since I put it on the other property.

I had to turn down several prospective buyers since he assured me the place was sold to him. Buyers I may not get back, who have already bought other property.

What is my legal responsibilty to him, or his to me at this point?


Asked on 2/20/06, 9:19 pm

1 Answer from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: Buyer wants money back from a legal contract on a home.

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

If I understood your fact pattern correctly (and I hope that I did not) you have done everything wrong. The transfer of real property is by a Deed and not a Bill of Sale which is used to transfer personal property. Monies given to secure a contract are to be held in escrow pending the closing on the transaction. The seller does not have the right to use these monies on anything else without the express written consent of the buyer. Anything having to do with the sale of real estate must be in writing and not oral. Whatever you claim to have told the buyer will have no effect whatsoever based on the Statute of Frauds.

I strongly suggest that you immediately consult with a local real estate attorney to sort out the mess that I preceive to have happened.

Scott R. Jay, Esq.

Read more
Answered on 2/21/06, 9:05 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida