Legal Question in Real Estate Law in Florida

Escrow Dispute

A good faith deposit was put donw on a property I was interested in purchasing. The appraised value of the property clearly did not support the selling price of the home. (I paid for the appraisal)

The seller is refusing to sign a release in order that I may receive my earnest money back from the Title Co. with which it's being held in escrow. The realtor that was representing me as the buyer (quite poorly) advised me that I would have to take the matter to small claims court which I do intend to pursue. My question is this, is my only claim against the seller for refusing to sign the release or can it be claimed against the buyer's realtor for failure to represent me properly. Are any other fees recoverable, such as the appraisal and the time and court costs?


Asked on 9/18/03, 3:52 pm

2 Answers from Attorneys
Darren Inverso Norton, Hammersley, Lopez & Skokos, P.A.

Re: Escrow Dispute

Make sure to check the contract. Under the contract there should be a section that dictates the procedures for settling disputes regarding the deposit.

Read more
Answered on 9/18/03, 4:01 pm
Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

Re: Escrow Dispute

The terms of your contract will dictate your legal remedies. Typically most contracts provide an attorneys' fees provision that entitle the prevailing party to recover the fees and costs associated with any dispute relating to the contract. Read your contract carefully. You may have to resort to mediation and/or neutral binding arbitration before being able to file a civil action in court. Good luck.

Read more
Answered on 9/18/03, 4:05 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida