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Asad Rahman
Asad Rahman, Lawyer
Category: Real Estate Law
Satisfied Customers: 1512
Experience:  Practicing Attorney with 10 years experience
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I'm in Los Angeles County CA. I was selling my house with an

Customer Question

I'm in Los Angeles County CA. I was selling my house with an agent and in escrow. Buyer did not perform and I gave them two extensions to close escrow. they still did not have the funds to close so I cancelled the escrow. I want to move on and accept another offer and open escrow again. The problem is that the previous buyer/agent does not want to accept the cancellation and I am returning all of their deposit knowing that I have the right to keep.
Am i able to open escrow with a second buyer without the contingency of canceling the first?
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Asad Rahman replied 6 months ago.
I am sorry to hear this. I think you need to provide formal cancellation and to be safe provide their deposit back so that they really have no basis to claim damages.

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