Q: Bought house and held money in escrow until agreed upon terms complete. Not completed by date given. Next steps? $ mine?
Electrical and subsequent painting/drywall was supposed to be finished by closing date. Wasnt. Then I gave until the 31st. Still wasn't done. He threatened to sue me and both realitors if we do not release the escrow. What grounds does he have to sue? I have legal right to the moneys held in escrow, correct? That is bound by the forms signed holding the escrow.
A: You have a right to keep the money. In fact the escrow letter should not allow funds to be released to anyone else
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