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Escrow Deposit Disputes – A Bright Line Test

  More and more with an active real estate market in Los Angeles we are seeing disputes over the return of earnest money deposits after a failed escrow.  Typically, the seller wants to retain the up to 3% liquidated damage deposit while the buyer wants its deposit back. Generally, there is a bright line test that can help you determine whether the seller has a right to retain the deposit or whether the buyer has a right to a refund.  The test is whether the buyer has removed all of its contingencies.  If the buyer has removed all of its contingencies then they generally have passed a point of return.  This means with a full contingency removal the buyer will have a difficult time obtaining a

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Posted in Escrow Deposit Disputes, Purchase and Sale

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Zachary D. Schorr has been named to the Southern California Super Lawyers (Rising Stars) list for attorneys in Real Estate for 5 straight years - 2012, 2013, 2014, 2015 and 2016. Each year, no more than 2.5 percent of the lawyers in the state receive this honor. In 2016 he was also included as one of the top 100 lawyers in Southern California in this category. The selection for this respected list is made by the research team at Super Lawyers.

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If you are currently involved in a real estate dispute, either commercial real estate or residential, and are looking for a Real Estate Attorney in Los Angeles with a cost-effective, results oriented approach designed to meet your case's specific needs, contact the attorneys at Schorr Law. Our real estate firm has the specific knowledge and experience necessary to get you the best possible results.

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