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Legalease, Attorney
Category: Business Law
Satisfied Customers: 16379
Experience:  14 years experience corps, LLC's and partnerships; preparation, negotiation of complex contracts and business agreements
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I was buying a business, I gave seller deposit but seller

Customer Question

I was buying a business , I gave seller deposit but seller refuse to provide document promise in the contract then her broker cancelled the deal did I am responsible of breach the contract ? Why seller steal my deposit ?
Submitted: 2 years ago.
Category: Business Law
Expert:  Legalease replied 2 years ago.

Hello there -


Generally speaking, if a seller and buyer are not able to come to terms of agreement for the purchase and sale of a business, the seller is required to return the deposit to the buyer. My suggestion to you here is to put your request for the return of your deposit in writing and mail it to the real estate broker via certified mail. If the broker ignores you or contacts you but refuses to return your deposit, then you can either take the matter into small claims court in the county in FL where this took place (you can sue in small claims court for up to $7500 in most counties) or, if the amount is higher than a small claims action, you will have to contact a local attorney in your area to pursue an actual civil lawsuit against the seller and the broker for the return of your deposit.