Hi,
I'm in a situation where buyers went into a sales contract with me to purchase my house w/a preoccupancy agreement from Sept 1 through Jan 31. The buyers were supposed to put an initial deposit of $2k and a second deposit of $4k into long and foster escrow account, which is the buyers agent realestate company. The buyers have failed to pay rent as of November and have not reimbursed me with any utilities. They have vacated my house now giving the excuse of my house not appraising for the sales price - there was no appraisal contingincy in the contract. We have not seen anything in writing from the loan or appraisal company - which they were supposed to give on 12/15. Now I'm trying to get a release of the deposit and I find out through my agent's broker that the $4k (second deposit) never cleared into the escrow account. Neither the buyers agent or long and foster informed anyone from sellers side that the deposit never cleared.

I'm trying to figure out who and how I can sue for the $4k deposit? Or is that a lost cause? How do I ding long and foster and the buyers agent for this?

Thanks

mr.yet

If you have a signed contract, the terms of the contract are binding upon both parties.

You can file suit based on you contract witht the other party.

Have an attorney review your contract and take necessay steps to enforce it.

syou

Unfortunately I can't afford a lawyer now, so I have to rely on my self and your advice.
I am already going to file a large claim against a buyers for the rent they owe me. But for the $4k deposit, do I sue the buyers or their agent/long and foster? How else can I ding their agent/long and foster for this?

I do have a signed contract by both parties.

thanks again

mr.yet

If it is part of the contract for the deposit to be made by the other party, than that is who you sue.

The wording of the contract is your key, read and re-read it to see which party is respondible.

excon

Hello syou:

If you had afforded yourself a lawyer in the beginning (when you were writing the contract, and couldn't afford a lawyer), this wouldn't be happening to you now. Ever hear the phrase, "penny wise and pound foolish"?

You need a lawyer.

excon

syou

Well, what are realestate agents and brokers for if I need a lawyer to do everything?

Every lawyer I talk to estimates atleast $6K to begin with to handel my case. How am I to pay for that, knowing that the buyers I'm dealing with are experts at doing what they are doing to me now and have nothing they own to their name that I can possibly garnish to get what they owe me back? I found out that these people have broken atleast two leases before breaking the contract they have with me. And oh, they moved to another house up the street from where I live and are now renting another house. Guess what they'll do to that owner too?

If you recommend a good lawyer that has reasonable rates in the state of maryland, please share. But please don't bark at me because I'm already a wreck.

Thanks

ScottGem

Let me see if I understand this. The contract called for the buyers to make deposits of $2K and $4K. These deposits were supposed to made at times specified in the contract. The deposits were made but the second check was returned? And you were never informed of that?

If so, I think you do have a case of negligence against the company. they should have informed you when the check was returned. The problem is that the real estate company represented the buyer, not you. That might change their obligations. As far as I know, even though they represent the buyer, managing an escrow should make them responsible to both parties.

I have to say though, that even $6K was kind of low to allow them to live in your house. I would not have allowed them to move in for less than 10% of the purchase price.