Can I sue the seller or title company for not closing as agreed by the closing date?

I already wired the full payment in cash for home purchase to the title company before closing. I’ve already granted an extension and now they want another. Shouldn’t I be compensated since the buyers title company has my money but did not close? How do I get my money back? With Interest?

Asked on March 26, 2018 under Real Estate Law, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

PLEASE seek legal counsel as soon as possible to read the contract and figure out your options.  The contract governs.  It should state who holds the funds and how (obviously the title company but is it in an interest bearing account?).  If they hold is in a fiduciary capacity then you have some rights under the law but again, the contract rules.  Good luck.


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