By Inna G. Materese | Esquire
What happens when a home seller refuses to return escrowed funds in a home purchase gone wrong? Attorney Jon Young knows.
The home purchase began like most others. The buyers agreed to purchase a home from the sellers and put a deposit in escrow, pending an inspection of the property. The inspection revealed that the septic system was not appropriate and the well water to the home was not portable. This is where things went awry.
Though the buyers refused to repair the septic system or negotiate a credit for the repairs, they also refused to return the buyers' $70,000 deposit. That is, until Jon Young stepped in. Jon was able to secure a judgment at trial ordering the return of the funds to the buyers. In an October 26, 2017 decision, the Superior Court affirmed the ruling.
Congratulations to Jon and his clients!