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    MrsWeathers's Avatar
    MrsWeathers Posts: 1, Reputation: 1
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    #1

    Jul 28, 2009, 01:19 PM
    Buyer/Tenant wants out of lease or escrow back
    The Buyer wants his escrow money back if we don'y let him out of the lease, he is using a stipulation in the contract that if it appraises for less than the selling price then he can be released with escrow. If we agree to sell at whatever it appraises for do we have to still give him the escrow money back.
    siberianair's Avatar
    siberianair Posts: 360, Reputation: -4
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    #2

    Jul 28, 2009, 01:26 PM

    I would think you would not have to if you sell to him for the appraised price. Otherwise I think he holds the higher ground. Might want to consult a lawyer that deals with realestste to be sure.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #3

    Jul 29, 2009, 06:18 AM

    Hello Ms:

    If the agreement says what you say it says, then he has the right to withdraw. But, IF the agreement says that if you offer it for sale at the NEW price, that he HAS to accept it, then he does..

    But, it doesn't say that second part, does it?

    excon
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