Real Estate Law

Have Real Estate Law Questions? Ask a Real Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Real Estate Law

I had a contract to purchase a home in Florida in mid 2013.

Customer Question
I had a contract to...
I had a contract to purchase a home in Florida in mid 2013 . The home did not pass the inspections . I used the termination clause ( if any major component fails inspection the buyer may terminate with full refund of deposit ). The seller refuses to sign the release of my funds . The title co. Is holding my $5000 and will not release unless the seller signs off .
Is the title go. Liable because the contract states if there is s dispute the funds must be released to my agent until dispute is resolved . The title co. Refused to release funds .
Submitted: 2 years ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 1 minute by:
8/11/2015
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 2 years ago
RealEstateAnswer
Category: Real Estate Law
Satisfied Customers: 28,754
Experience: 10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
Verified

Good evening. Do you know why the seller is refusing to release the funds? I am asking because if you were able to terminate the contract, what grounds do they have to keep it?

Ask Your Own Real Estate Law Question
Customer reply replied 2 years ago
No.It is a Fannie Mae propertyu.The contracted clearly stated that the buyer has the right to terminate the contract right up to the ,day of closing if the home has code violations.Pal home inspection wrote it up for multiple violations.Electrical code violations being the one used for termination.It also had Electrical/HVAC/Water ,and structural violations as well.
The Title company tells me that they can only release the funds with both parties written approval.
Actually the contact included an agreement by the seller to cooperate with a 1031 exchange.They agreed to accept participation in the 1031 transaction.The 1031 documents they requested to look over(prior to agreeing to accept ) clearly state that if a disagreement arises on the contract that the 1031 Agent will hold the funds that artdisputed until a resolution is reached.The title co. refused in writing, to myself and my Agent to comply .
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 2 years ago

Thank you for the additional information. If you and the seller have an agreement and language stated within that agreement, that the money will be released and turned over to your Agent, then that needs to be done. While the title company is holding it, BOTH parties have already agreed to release it to your agent in the event of dispute, so the title company should request and receive a release, advising of the same. I can understand them holding it to protect their own interest if there is a dispute and not turn it over to either party but here, there is an agreement to do something specific, so they should comply. If they are not, then you would have to go after them but prior to, should make one more good faith attempt to present to them a signed document, by you and the seller, referencing the agreement to do this and showing them that it was agreed to and you consent to it now. If not, then you would need to go after them for the release.

Ask Your Own Real Estate Law Question
Customer reply replied 2 years ago
The Title Co. is strongly refusing to release the funds.My representing real estate agent sent them a request stating those exact facts ,they refused.I contacted them and pointed out that the seller was bound to comply with the 1031 lanquage. They refused to comply without the sellers signature.The 1031 has been closed now and the 1031 representative has closed the account .I dont know if the funds could still be given to him or not .I understood that after a certain period of time that the title co. had to turn those funds into the court to hold pending resolution.I thought i saw that in the Fl. Statutes .
I plan on sending the title co. a certified letter asking them to release the funds.What i am wondering is if i can name them in a court action to recover the funds.They told me that I cannot sue them or take action against them in this situation.
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 2 years ago

Is the seller willing to sign a document releasing the funds and having them turned over to the Agent? I ask this because you shared above that they want the sellers signature, so if you present them with something that has it and asking them to do this, with both parties agreeing, they should have no problem releasing it.

Ask Your Own Real Estate Law Question
Customer reply replied 2 years ago
Seller refuses to sign because they said I broke the contract . I did not . The contract had a clause up to date of closing that released me if it failed inspections . It did and I refused to purchase .
The title co, is the one who is not abiding by the contract for refusing to release the funds .
I need to take specific action against them to recover . I'm trying to find out how I can get the title co. To abide by the terms of the contract and release my funds .
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 2 years ago

At this point, you need to go after and sue the seller. You need to ask, as a remedy, that they sign the requested documents to release the funds and essentially have them returned to you, since you have a legal basis to back out. The title company does not have a problem releasing anything BUT they need to sellers signature. The agreement is between you and the seller, as they have no obligation to comply with it, since they were never involved. They are doing what they are required to do and not release the money until agreed upon, so the seller is who you needs to go after, since they are breaking the contract and not allowing the money to be turned over.

Ask Your Own Real Estate Law Question
Customer reply replied 2 years ago
Ok . Thank you . It's Fannie Mae and the real estate agent says they will stonewall forever. He's says people have sued them and they drag it out until the people just give up .
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 2 years ago

Yes, he is likely right and that it will be dragged out litigation. That is why it would be easier to go after the seller at this point, under the contract. Please let me know if there is anything else, as I would be happy to respond. If not, please remember to rate my help at this time, prior to leaving, so I can receive the proper credit, for our time together. Thank you.

Ask Your Own Real Estate Law Question
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 2 years ago
I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!
Ask Your Own Real Estate Law Question
Ask RealEstateAnswer Your Own Question
RealEstateAnswer
RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 28,754
28,754 Satisfied Customers
Experience: 10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases

RealEstateAnswer is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

10,826 satisfied customers

16 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

7,657 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

7,367 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,899 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
When it comes to profitability on Real Estate, I'd like to
Hi,When it comes to profitability on Real Estate, I'd like to know what is the profitability coefficient (like how many % of the full price of the property I can charge as rent in case I decide to ren… read more
Michael Bradley
Michael Bradley
JD
1,131 satisfied customers
What is responsibility of a real estate agent or Realtor
Hello, what is responsibility of a real estate agent or Realtor when he represents both the buyer and the seller and gets the inspection report? What is his responsibility to the buyer when he has the… read more
Ray
Ray
Lawyer
Doctoral Degree
7,367 satisfied customers
I am looking for a cancellation of contract for real estate
I am looking for a cancellation of contract for real estate form … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,996 satisfied customers
A real estate contract states that if financing can not be
A real estate contract states that if financing can not be obtained within the stated time frame, the contract is null and void. If financing can be obtained at a future date, can this contact be rein… read more
Gerald, Esq
Gerald, Esq
Juris Doctor
3,039 satisfied customers
My real estate agent and i completed a real estate
my real estate agent and i completed a real estate transaction back in November of 2007. there has been a problem with the transaction and i would like to take her to small claims court. however, i wa… read more
Dave Kennett
Dave Kennett
Doctoral Degree
25,741 satisfied customers
Are you a Real Estate Attorney? California. My partner and
My partner and bought a home we had for 22 years he is not on Title and I… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,657 satisfied customers
How can an individual close on a piece of real estate
How can an individual close on a piece of real estate without physically being at the closing and what would the process be like?… read more
Barrister
Barrister
Lawyer
Doctoral Degree
10,826 satisfied customers
Can a Life Estate that was added into a real estate contract
Can a Life Estate that was added into a real estate contract to buy property be removed? Or can it be transferred to someone else without the consents of both the buyer and seller?… read more
LegalGems
LegalGems
Juris Doctorate
10,212 satisfied customers
In commercial Ohio real estate is their such an agreement as
In commercial Ohio real estate is their such an agreement as a NNN lease that is also a land contract installment which offers some type of equity ownership during or after the lease terms ?… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Looking for a Real Estate Lawyer to come out and talk with
Looking for a Real Estate Lawyer to come out and talk with our community about HOA. The builder of our homes just turn over everything to the community with really explaining anything. We are look for… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Are you a Georgia real estate attorney, georgia, yes
good afternoon are you a Georgia real estate attorney … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I have a real estate question related to Florida Real Estate
I have a real estate question related to Florida Real Estate law. … read more
RealEstateAnswer
RealEstateAnswer
Lawyer
28,754 satisfied customers
I need to consult with an attorney regarding real estate
I need to consult with an attorney regarding real estate sell … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
TennesseeHad home inspection done. Did not see due to no
TennesseeHad home inspection done. Did not see due to no rain. Was not disclosed in disclosure sheets. Rained yesterday. Seeing prior water spots showing thru newly painted ceilings thruout several ro… read more
Attyadvisor
Attyadvisor
Doctoral Degree
6,899 satisfied customers
Real estate law I'm the seller i signed real estate contract
Real estate law I'm the seller i signed real estate contract now i dont want to sell I initialed the contract instead of signing the sale price was illegible so the seller sent an amendment for me to … read more
Damien Bosco
Damien Bosco
2,998 satisfied customers
It is not a real estate problem it is about a person that
it is not a real estate problem it is about a person that was evicted and nowher to go … read more
Damien Bosco
Damien Bosco
2,998 satisfied customers
Can you terminate a real estate contract as the buyer if the
Can you terminate a real estate contract as the buyer if the property has been hit by a hurricane? My husband and I were set to close on land in Puerto Rico, then Maria hit. Now, we want to back out o… read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
Texas real estate lawyer: Texas Real Estate Title Question
Texas Real Estate Title Question1. H&W hold title JT WROS to a single family home. Their homestead which has been designated by Harris County as their homestead. 2. County allowed Over 65 exemption in addition to homestead exemption since 20133. Large judgment against H only in favor of federal govt was filed in 2000 or 2001 in Harris County4. Title history: a. H&W married since 1990 b. Property purchased by W only in 2003 and homestead exemption in effect in W's name only from 2004 to 2013 c. A “bogus” (wife never signed it) warranty deed was recorded in 2012 purportedly transferring title to homestead from W to H&W JTWROS.5. W is now 62 and H is 776. Does judgment against H only create a title objection if H&W want to obtain a mortgage or sell the house?7. If H deeds property “back” to W does judgment “go away” as a title exception?8. If H dies before W, does the judgment “go away” as a title exception allowing W to sell property?9. Assuming the answer to # 7 is no, then can W file a lawsuit in District court to have the bogus deed stricken/declared null and void? If so, what is the name of the lawsuit, i.e. an action to strike a deed or set aside or _____?10. In such a lawsuit would H be the only defendant necessary?11. Once it is filed, to save time can H file a consent to entry of a judgment declaring the bogus deed null & void?Thank you. … read more
Ray
Ray
Lawyer
Doctoral Degree
7,367 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x