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Dispute

Asset Purchase

California

Asked on Jun 24, 2022

I am a seller .Buyer broke the contract, How do I get the earnest money in case the buyer did not agree to sign ? .

I am a seller . made a contract to sell the commercial building. But Buyer did not make to fulfill their jobs, my broker asked to sign for the deposit. They did not answer for long time. Escrow company said without both sign, can not release the deposit to the seller.

1 Attorney answer

Answer

Dispute

California

Answered 73 days ago

Donya G.

ContractsCounsel verified

Business Lawyer
Licensed in Connecticut, New York
Free Consultation

That is correct. The escrow agreements I have drafted or reviewed would only release the money if both parties agreed. However, the document should outline what happens when there is a dispute. You will need the document reviewed and then advised on the next steps. As a contracts attorney who has experience with contract disputes, I can assist you. If you would like to engage my services, you may contact me on the Contracts Counsel website. Donya Gordon

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