My fiancé and I canceled a contract during attorney review on a house we were going to purchase based on the inspection findings. The sellers attorney was holding the earnest money. The contract was canceled a month ago, and I still don’t have my money back. 3 weeks ago when my attorney asked him about it, he said he was putting his dog to sleep and would take care of it. Fair enough, I’m not completely heartless. 2 weeks ago the sellers attorney emailed my attorney that the check was in the mail. I never received it. Last night he dropped a check off to me at my house, it was returned for non-sufficient funds. To say I’m livid is an understatement. What recourse do I have to try and get my money back?
I’m in Illinois. I know I can file a complaint with ARDC, but that doesn’t get me my money. I do not believe he’s acting in good faith. A month is more than enough time for him to get me back my money.
Any ideas or recommendations would be appreciated.
Posted by ResidentSection7419
3 Comments
Report the attorney to the bar association. financial malfeasance is one of the few things the bar association cares about.
A check was returned NSF that fast?
I know you have an attorney but probably don’t want to pay your attorney a million dollars to deal with this.
If I were you, I’d probably wait a day or two and redeposit the check and hope for the best.
After that, the next step is letting the SELLER know that you haven’t received your deposit back as per contract. Whether you do this yourself or have your attorney do it…up to you.
Ultimately, it’s the seller that owes you your money back. So they need to make that happen even if their attorney is a doofus.
Oh no, that sucks. So sorry you have to deal with this.
Don’t know specific IL regs, but in my state the attorney who held the money is in serious trouble.
You’re probably not the first or only victim. Try to get as much of your money back as possible, cashier’s check or wire transfer.
That attorney is likely to implode, go bankrupt, get disbarred, or arrested. I’d wait to see if I could get my money back before reporting or pressing charges, just in case accounts get emptied or frozen or whatever.
It may be a time consuming battle to get your money if any of those things happen.
Since the check bounced, the attorney obviously used the money for something else (conversion) and probably mixed funds to pay operating expenses or some other bill due (co-mingling). Or drugs, gambling, something else – there’s usually something underlying when someone knowingly blows up their professional life.
Your attorney should be able to easily point you to the right authorities to report (quick google; [Illinois Department of Professional and Financial Regulation](https://idfpr.illinois.gov/news/disciplines/discreportsdefault.html)), probably the local BAR association, and possibly local law enforcement.