Legal Question in Real Estate Law in Florida
I was under contact to purchase a home. Two days before closing the title agent raised the prices for the seller. The seller disputed but the agent would not budge. The contract ran out. Now both sides want to disolve the agreemnet. The title company has threatened to sue if I do not sign a waiver releasing funds to them out of my deposit they are holding that was to go to the purchase of the home, Can they do this?
3 Answers from Attorneys
Hi. I'd like to better answer your question, but none of the facts you provided really make any legal sense. Title agents have no authority to raise the price on a real estate contract. The real estate contract terms are between the buyer and the seller. Title companies also don't sue on escrow deposits. The only power they really have with an escrow dispute is to pay it into the court and have you and the seller litigate the issue. As long as you don't sign a release, they are required to either continue to hold the deposit in escrow or to pay it into the court. They don't really have any other choice.
The title company is an intermediary. If the Seller and Buyer agree to void the contract, they may do so without penalty. What I do not know, if there is some type of agreement with the title company that requires payment. Regardless, the title company cannot 'force' you to sign a waiver.
I agree that the title company cannot force you to sign a waiver. You should consult with an attorney that offers a free consultation for additional assistance. Regards,
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