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

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

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,369
34,231
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.

AroundTheWorld

Be in the Moment
Speedway Pass
Jul 24, 2007
2,909
1,897
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
7,369
34,231
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
30,918
114,325
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
7,369
34,231
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
1,849
294
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
30,918
114,325
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
7,369
34,231
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
5,421
2,217
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 2020
Price is going up to $3,000 on Jan 1st. We went through the cost of running it over the last...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
If you read the last message then you know I'm removing my courses from Udemy next month. You...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
PS. what do you think about the idea of setting up live Busking experiences on Air BNB? I could...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Hi Mj, I just bought it. And reading it. I think is a great idea to write using the stories to...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Thanks for the reply. Whats interesting is that I have an idea that's been cooking which...



Forum Sponsor

sponsor

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