Escrow and Earnest Money Disputes
Lawyers at Kabak Law Group provide buyers, sellers and escrow agents with experienced legal representation in escrow and earnest money disputes.
The breakdown of a commercial or residential real estate transaction involves a host of issues that require private negotiation and at times arbitration or litigation.
When real estate transactions fail to close escrow a key concern for all parties is the distribution of the buyer's earnest money. With earnest money deposits reaching 3% of the purchase price in residential purchase agreements and an even greater percentage in commercial transactions, all parties have a lot at stake.
Either party may be entitled to recover the buyer's earnest money deposit depending on the circumstances surrounding the failure of the transaction and the terms of the purchase contract. We help our clients analyze contract terms to determine whether there is an actionable breach of contract, an enforceable liquidated damages clause or a non-refundable deposit provision and all available remedies.
Since an escrow agent may not release funds held in escrow without an agreement signed by both parties, the buyer and seller should understand all of their rights and obligations before consenting to or rejecting a demand for the release of escrow funds.
When real estate transactions stall or fail, Kabak Law Group attorneys work closely with clients to analyze claims, devise legal strategies and resolve escrow and earnest money disputes effectively, timely and favorably.
