I had a executed contract on my business. The due diligence and closing date past and the buyer decided not to go forward with the sale due to ill health. He explained that he really wanted the business but was unsure if he was going to be healthy enough to run it. Due to the fact that the buyer had given me every indication that he was still going ahead with the purchase up until the closing date I want to keep the $5000 deposit. My broker and the buyers broker agrees with me and they have both signed off the escrow release to me. I have also signed but the buyer refuses to sign on the grounds of ill health. The escrow company will not release the funds to me without the buyers signature doe anyone know how I can get the deposit released to me?

Have you browsed through the information in LawInfo's Free Legal Resource Center to learn more about your issue yet? See: http://www.lawinfo.com/consumer.html and http://resources.lawinfo.com/en/index.html. You can certainly try to speak to a lawyer to determine what legal options may be available. In the meantime, you may be able to learn more on your own. Search the "Free Legal Resources" tab, or browse the Consumer Resources. Good luck.

Have a closer look at the contract and if his signature is even necessary. If his signature/consent is not required, point it out to the escrow agent. Otherwise, small claims court.

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Paul K. Silverberg, Esq.