Legal Question in Real Estate Law in California

Assume a home buyer in California makes a deposit to the escrow company for a home purchase. After research and home inspection the buyer wants to cancel the purchase and wants a return of deposit, so they fill out the California Association of Realtors form titled, ''Cancellation of Contract, Release of Deposit and Joint Escrow Instructions" and submits this form to their agent, lender and escrow company well within the contingency period. Was this the correct thing to do for the buyer to get his entire deposit back?


Asked on 1/17/14, 11:11 am

2 Answers from Attorneys
Terry A. Nelson Nelson & Lawless

Escrow and Purchase contracts can only be cancelled with the consent of all parties. IF you have valid grounds under the terms of the contract to cancel for failure of some contingency, then you may be successful in getting your deposit back. It frequently is a 'fight' to do so. If serious about hiring counsel to help in this, and if this is in SoCal courts, feel free to contact me. I�ll be happy to help fight and get the best outcome possible.

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Answered on 1/18/14, 9:02 pm
Anthony Roach Law Office of Anthony A. Roach

I agree with Mr. Nelson. The "joint" means that both the seller and buyer have to agree to cancel the escrow.

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Answered on 1/21/14, 8:38 am


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