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Old Today, 11:11 AM
 
Location: Cary, NC
28,560 posts, read 50,782,345 times
Reputation: 26737

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Quote:
Originally Posted by SmartMoney View Post
That's exactly what she is trying to do. But she just can't say "you bad, my money now" and get the EMD. And it looks like these psychos are going to force her to incur even more legal fees and tie up the home from being relisted.....they are dragging it out, demanding EMD returned. I am reluctant to put details of a potential lawsuit on the web - she needs someone to rely on. The agent is not that person, unfortunately, she found that out about halfway into the contract after it was ratified. She needs a litigator.
Post in the CT forum for recommendations?

We often see good recommendations for attorneys in our local forum.
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Old Today, 11:59 AM
 
5,129 posts, read 6,537,329 times
Reputation: 2666
Quote:
Originally Posted by SmartMoney View Post
That's exactly what she is trying to do. But she just can't say "you bad, my money now" and get the EMD. And it looks like these psychos are going to force her to incur even more legal fees and tie up the home from being relisted.....they are dragging it out, demanding EMD returned. I am reluctant to put details of a potential lawsuit on the web - she needs someone to rely on. The agent is not that person, unfortunately, she found that out about halfway into the contract after it was ratified. She needs a litigator.
Why can't she say "too bad, my money now?" Isn't that what the contract most likely says? How much is the earnest money?

If the closing date has passed, how are they tying up the house?
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Old Today, 12:04 PM
 
Location: Cary, NC
28,560 posts, read 50,782,345 times
Reputation: 26737
Quote:
Originally Posted by GoPhils View Post
Why can't she say "too bad, my money now?" Isn't that what the contract most likely says? How much is the earnest money?

If the closing date has passed, how are they tying up the house?
If there is disagreement on a contract, and that would include refusing to sign off on disbursement of the earnest money deposit, you are in Legalville to get the contract enforced.
Attorney.

If there is disagreement on disbursement of funds, it may be routine local protocol, or some language in a contract that none of us have seen, that the property stays off the market until disagreement is resolved.
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Old Today, 02:32 PM
 
Location: Salem, OR
13,215 posts, read 29,545,438 times
Reputation: 10825
Quote:
Originally Posted by SmartMoney View Post
That's exactly what she is trying to do. But she just can't say "you bad, my money now" and get the EMD. And it looks like these psychos are going to force her to incur even more legal fees and tie up the home from being relisted.....they are dragging it out, demanding EMD returned. I am reluctant to put details of a potential lawsuit on the web - she needs someone to rely on. The agent is not that person, unfortunately, she found that out about halfway into the contract after it was ratified. She needs a litigator.
Can it be handled in small claims court?
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Old Today, 05:06 PM
 
7,446 posts, read 6,317,258 times
Reputation: 15608
Unless the deposit is quite large, hiring a top litigator and taking it to court to retain the deposit when the buyers are going to fight it tooth and nail, it will cost your friend more in attorney fees and costs, than the amount they are trying to retain.

You don't want to try to enforce the contract through the courts, as that will take 2 or more years in most jurisdictions to get it done, and there are always a lot of loop holes in the sale that make it impossible to force them to buy if they do not want to. And if the buyer wins, the seller will have taken the property off the market for a couple of years, and the seller may even have to pay the buyers attorney fees and return the deposit to the buyers.
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Old Today, 08:56 PM
Status: "Still here" (set 29 days ago)
 
Location: Connecticut
22,425 posts, read 37,047,691 times
Reputation: 6097
I am confused. They were ready to close but she did not have an attorney? Without more details it is hard to comment but she needs an attorney to advise her. The buyers should have put up a deposit. If they back out your friend has every right to keep that money. That is what it is for. I will DM you the names of two attorneys I have used in the Hartford area. I wish her the best. Jay
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