Q: Seller refusing to return the downpayment when we backed out before the sellers signed the contract
I signed the contract and wired the deposit however sellers weren't signing the contract for several days and I decided to withdraw as this wasn't the first red flag. Now they are not responding at all to requests to refund the deposit. Since they didn't sign the contract, I don't think it's binding. What options do I have to get my money back? Is there any legal basis for them to not return the deposit promptly since the contract is not fully executed?
A: You will need to commence a lawsuit and the sooner the better. Strongly consider retaining counsel immediately.
A: If the downpayment was deposited before the contract was signed, that is theft. If it was a check not yet returned, stop payment. If it was a wire to a lawyer, and the lawyer refuses to return it, file an ethics grievance. This is theft.
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