Legal Question in Real Estate Law in Florida
Real estate contract
Is their any case or statue that would allow the buyer/purchaser of a vacand Land contract to be permitted to hold the deposit during the replatting process if no escrow agent is required, requested, or acknowledged by either party on the executed contract? The lines and spaces for the escrow agent/escrow deposit were left blank and the contract was signed by both parties and both parties moved forward in the replatting process. Deposit Funds were held by buyer and seller is now claiming that no deposit was ever tendered for consideration after the replatting was completed. Buyer/purchaser can show that at all times, the full purchase price was maintaining in a savings account and was available to close.
1 Answer from Attorneys
Re: Real estate contract
You should review the contract carefully and consult with an attorney over the issue.