Need Real Estate Legal Advice

I am a regular poster, however, the buyers of what was supposed to be my new home maybe on this board. Without going into all the details, we were in contract to sell our home and buy another home. Our buyer took too long to buy our home and the sellers of our new home decided to put their home back on the market. But, their attorney is holding onto our downpayment. Even now, they are in contract with another buyer and have not given our downpayment back. Apparently, to get my money back is not my attorneys top priorityor even a priority at all. Everyone on this board is always so helpful, has this happened to anyone? Is it legal? Any advice would be appreciated! Feel free to FM.

Re: Need Real Estate Legal Advice

Was there a contingency in your contract that allowed for you to get your DP back due to your failure to close? Did they issue a time is of the essence closing? You should look at your contract and find out what your contingency clause says.

Message edited 1/4/2012 6:01:36 PM.

Re: Need Real Estate Legal Advice

Where is your attorney in all this?

Was your deal contingent on you selling your original home first? If so, there should be some discussion about the timing.

Message edited 1/4/2012 9:03:08 PM.

Re: Need Real Estate Legal Advice

If you went 30 days past the closing date in the contract and didn't have a contingency clause, then you might be out of luck. It is not the sellers problem that you put a deposit on a house when you were waiting on money from the sale of your own home. They are not obligated to wait for you unless it was written in the contract.