sellers quit claim the deed - Posted by def

Posted by Rainbow on May 11, 2006 at 14:03:46:

Was the deposit a “refundable” deposit?

They did break the contract regardless.

sellers quit claim the deed - Posted by def

Posted by def on May 02, 2006 at 18:09:41:

we put a $7500 deposit and had the sellers sign a purchase agreement and a unsecured promissory note for $7500 just in case we cant perform. it took about 3 months to finally get the loan docs ordered because we couldnt secure our credit partner. 1 week before getting loan docs, we found out the seller quit claim their deed to another investor and the property was short saled. the sellers never signed off or warned us about this so i feel they breached the contract.

now we want our $7500 back. im talking to the sellers about getting it paid back however im getting the run around. im thinking of taking them to court but not sure how much it would cost in fees.

any thoughts?