Hi !! I want some advise on what to do about the situation I am in.
I made a contract to buy a business. Due to insufficient funds I can not go through with this contract. I would like to break the contract.
In the contract there was a clause saying buyer(ME) will pay $5000 to seller in damages in case of breach of contract. I am ready to pay for that. But The seller has my deposite of $25,000. How can I get that back. Do I need to hire a attorney for this? Do I need to go to court with this or what?
Please let me know any solution to this I will be more then happy to discuss more details.
thank you
I made a contract to buy a business. Due to insufficient funds I can not go through with this contract. I would like to break the contract.
In the contract there was a clause saying buyer(ME) will pay $5000 to seller in damages in case of breach of contract. I am ready to pay for that. But The seller has my deposite of $25,000. How can I get that back. Do I need to hire a attorney for this? Do I need to go to court with this or what?
Please let me know any solution to this I will be more then happy to discuss more details.
thank you
