Do I have any recourse on property that I made and offer on if the owner backed out and is now asking more than my accepted offer?

Get Legal Help Today

 Secured with SHA-256 Encryption

Do I have any recourse on property that I made and offer on if the owner backed out and is now asking more than my accepted offer?

I made an offer on property that was for sale and the owner accepted. this wa 2 years ago. I put $1000 down and it went into escrow. He later withdrew on the contract and cheated me out of the $7200 first time home buyer’s credit. The real estate firm that was handling the sale, told me that I better not leave that money in escrow. I had to sign a paper saying that I withdrrew my end of the deal about 5 days after the owner signed it. Now it is for sale again for more money than what I offered. Do I have any recourse, and what would it be?

Asked on January 19, 2012 under Real Estate Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you signed some document several years ago canceling the escrow for the purchase of the property that you are writing about with a full release to the seller, then most likely you have no recourse against the seller for specific performance to purchase this property under the contract that the seller signed.

If you did not sign a full release concerning this property with respect to any escrow cancellation, then you still might have some basis for specifically enforcing the written contract to buy the property that you entered into several years ago. I suggest that you consult with a real estate attorney further about the situation you are writing about and have him or her review all paperwork concerning this property.


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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption