Legal Question in Real Estate Law in Florida

Real Estate Deposit - I live in Nevada (buyer) and the seller lives in Florida. Seller has a lot of land in Costa Rica for sale. I wanted to purchase the land and seller asked for 10,000.00 deposit while we negotiated the contract and performed due diligence. We could not agree on price/financing so, per the deposit agreement, I terminated the negotiations and the deposit was suppose to be refunded. Now the seller says he will not return the money.

c.iii)- Before the last day of the Due Diligence Period is ended, PURCHASER can decide not to buy the Quotas, or the Property as indicated in the Recitals of this Agreement, if as per the results of the said Due Diligence the terms and conditions of this Agreement can not be met and therefore decide to withdraw his offer, in which case PURCHASER will have to notify in writing (email transmission included) the Escrow Agent that he will not proceed with the Purchase, and in such case the Escrow Agent will proceed to notify SELLER ?as soon as possible- about PURCHASER?S decision; in this case, the Initial Deposit will be returned to the PURCHASER, without further obligations to the PURCHASER and without any further claims from the SELLER. If the PURCHASER does not notify the Escrow Agent in writing during the Due Diligence Period whether he will or will not proceed to buy the Quotas, it will be understood that PURCHASER wants to go ahead with the purchase of the Quotas.

Asked on 7/23/09, 1:23 am

David Slater David P. Slater, Esq.

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If you complied with the conditions of the agreement , he owes the money. Collecting is a different issue.

Answered on 7/23/09, 10:07 am

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