The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

REAL ESTATE Anyone here ever go to small claims court over earnest money?

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,643
36,058
5,083
Scottsdale, AZ
Just wondering if anyone has any experiences here. Looks like I'm going to court over a small earnest money dispute. I'm not sure if it's even worth it or not.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,898
120,458
3,751
Fountain Hills, AZ
Are you owed? Or do you owe?
 

AroundTheWorld

Be in the Moment
Speedway Pass
Jul 24, 2007
2,868
1,894
550
.
Depending up on the amount - if it is not very significant I would say WALK.... your time is valuable. and not worth the stress either!
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,643
36,058
5,083
Scottsdale, AZ
I am owed $1500. It will cost me a cheap flight, rental car and one day to do it.

Let's say I was 99% sure to win the case and that my flight and expenses will be $350 and one day. Would you still do it?
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,898
120,458
3,751
Fountain Hills, AZ
Answer depends on how much you value your time. Personally, I wouldn't bother. A day of free time vs dealing with airports, lines, crowds, judges - no brainer for me.
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,643
36,058
5,083
Scottsdale, AZ
That's what I'm struggling with. I'm trying to figure out how to turn it into a vacation trip. I think I'm going to offer my friends a free trip to Park City, Utah and use the $1500 to pay for it. The only caveat is if i lose the case, they have to pay for themselves. Probably worth the risk for them right?

:banana:
 

Bilgefisher

Bronze Contributor
Read Millionaire Fastlane
Aug 29, 2007
1,812
291
73
Aurora, Co
I have only one experience in this, (so please take this advice with a grain of salt) but even if you get a judgment in your favor, it is very difficult to get payment. I would recommend looking into ways to obtain your money from the other party after you win the judgment.
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,898
120,458
3,751
Fountain Hills, AZ
If you go and make the trip a vacation, it is tax deductible as the trip's purpose was for business reasons.
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,643
36,058
5,083
Scottsdale, AZ
I have only one experience in this, (so please take this advice with a grain of salt) but even if you get a judgment in your favor, it is very difficult to get payment. I would recommend looking into ways to obtain your money from the other party after you win the judgment.

The money is in an escrow account. theres a dispute over it we just need a judges order to get it released.
 

andviv

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Jul 27, 2007
5,360
2,198
625
Washington DC
can't you have your Realtor or somebody else representing you? Give them 33% of what you get from it and save yourself the hassle. Would that work?
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Finally took the plunge. I hate, hate, HATE spending money, but if FSL delivers on even half of...
  • Sticky
MARKETPLACE Entrepreneur's Toolbox: Company Formation, Virtual Mailbox, Registered Agent, Remote Online Notary
This is a pretty cool service. We've had trouble finding good virtual mailboxes, so that is what...
MARKETPLACE 7 Days To Freedom: From Wantrepreneur/Wage Slave To Freelancer
I attended the live session, really loved it! It gives some useful and practical tips on how to...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Three things: 1. Discord Chat is open. Click here for free access. 2. New YouTube Channel...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Any chance to make it available outside of US? It has been available outside of the US on...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
If there’s one thread I see repeated over and over again on the forum, it goes like this: “I...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Thanks for clearing that up. What do you recommend for those who are still in the process of...

Forum Sponsor

Over 100 Fastlane Students
More Details...

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom