Vendee Lien

[Account Closed]

If a seller signed a contract and is now unwilling to complete the sale do I hold a lien against the property for the earnest money deposit? If so, what's done next?

[Sal Pizzurro]

If he is not willing to refund your deposit, I would file with the local magistrate where he lives for failing to refund the earnest money. If you get a judgement even if it's not a lein on the property the judgement must be satisfied at closing before he can sell it. The title company will most likely send you a check. I would call the title company and ask them. Anyone, feel free to correct me if I'm wrong.

[Kyle J.]

Not enough info to answer your question. Did the seller give a reason for not completing the sale? What does your contract say about cancelling the contract and how to refund the EMD? And did you pay the EMD directly to the seller (not advisable), or was it deposited with, and being held by, an escrow company or attorney?

[Wayne Brooks]

Do you have lien...no.  Could you get a judgment before he sells to someone else... no.  Can you file suit...yes.  This may be the only remedy, it usually is when the title co. holds a deposit, without both parties agreeing to release it.  Is the owner unwilling to release the EM, or just unwilling to close?