Ayala Law is proud to announce a significant win for our client in a high-stakes real estate transaction. Ayala successfully negotiated a settlement returning $50,000 held in escrow after a $2 million land sale collapsed.
In the underlying dispute, Ayala’s client alleged that no financing contingency had been agreed to in the purchase and sale agreement. A financing contingency, sometimes called a “mortgage contingency,” is a clause in a real estate purchase contract that makes the buyer’s obligation to close contingent on successfully obtaining financing under agreed-upon terms.
The buyer cited an inability to obtain financing and walked away from the deal, breaching the purchase and sale agreement. Ayala Law swiftly intervened to protect our client’s rights.
Thanks to the efforts of M. Julia Solivan, Esq., our client recovered the $50,000 deposit before litigation was filed, saving significant legal fees and avoiding protracted court proceedings.
If you’re facing a complex real estate or business dispute, contact one of our experienced business litigation attorneys in Miami at 305-570-2208.
You can also reach out directly to our founding attorney, Eduardo A. Maura, Esq., at eduardo@ayalalawpa.com.
Schedule a confidential case evaluation with Ayala Law online here.
[The opinions in this blog are not intended to be legal advice. You should consult with an attorney about the particulars of your case.]
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