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 8 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. 


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.