How to get my binder back?
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How to get my binder back?
I have a contract with a company to purchase some land. I went through the financing process and everything was fine. Then they told me that I had to have my down payment in the bank so many days before closing which I was not able to do. So I was not able to get financing. My contract required a $1000 binder which states that I get it back if I fail to get financing. I provided them (seller and his lawyer) a letter from the finance company. They are telling me that I have to give them open access to all of my financial records from the finance company in order to get my money back or they will subpoena my records. How can they do and why?
Asked on January 11, 2013 under Real Estate Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
It sounds that you are being strong armed by the seller and his or her attorney over the $1,000. Rather than give up information that you are not required to do, write the attorney a letter demanding payment of the $1,000 by a set date and if not received by then, you will file a small claims court action against the seller.
If the payment due date comes and goes with no money, your legal recourse is small claims court against the seller.
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