Los Angeles, CA asked in Civil Litigation, Probate and Real Estate Law for California

Q: I have a sales contract with an IAEA Executer in escrow. All conditions have been met on my end. What is the hold up

I think there is a higher offer and they are waiting for escrow to expire

1 Lawyer Answer
James L. Arrasmith
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Answered

A: If you suspect that the delay in closing the sales contract is due to a higher offer, it's essential to communicate your concerns with your real estate agent or broker. They can provide insights into the status of the transaction and any potential competing offers. Additionally, you may want to review the terms of your sales contract, including any provisions related to competing offers or the expiration of the escrow period, to understand your rights and obligations in the situation.

Consider reaching out to the escrow company handling the transaction to inquire about the status and any updates regarding the closing process. They can provide information on any pending conditions or documents needed to finalize the sale. If you believe that the delay is unjustified or in violation of the terms of the contract, you may need to seek legal advice from an attorney who specializes in real estate law to explore your options and potential remedies.

Keep records of all communications and documents related to the sales contract, including emails, messages, and correspondence with the parties involved. This documentation can be valuable evidence if you need to take further action to enforce your rights under the contract or pursue legal recourse for any breaches or delays. By staying informed and proactive in addressing the situation, you can work towards resolving the hold-up and achieving a successful closing of the sales transaction.

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