Q: What can I do if the buyer of a property is refusing to sign the cancelation of escrow? I do not have money foralawsuit
I have extended his closing date many, many times but he has not deposit any funds in the escrow company. He has an attorney and every time we ask for the money, he keeps saying that he is going to file a lawsuit against the seller, realtor, and escrow company. I DO NOT HAVE MONEY FOR ATTORNEYS NEITHER FOR THE FILING OF A LAWSUIT. What can I do
A: Seller Seeking Earnest Money: In a standard California Real Estate Contract you are FIRST required to seek resolution by filing for Mediation before either party can resort to litigation. Mediation is reasonably costed and does not technically require that you engage an attorney to represent you. If the matter cannot be settled at Mediation, and you absolutely cannot pursue litigation due to cost concerns, you may be forced to consider Small Claims (limited amount of recovery, however). Naturally, it would be best to have hired an attorney but if you are unable, then consider these two "steps" for the pursuit of the Earnest Money.
Yelena Gurevich agrees with this answer
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