I entered into an agreement to sell my California Liqour License. The broker is also the escrow owner and unknown to me, he was the buyer un...

Question

I entered into an agreement to sell my California Liqour License. The broker is also the escrow owner and unknown to me, he was the buyer under a corp. name. # months later it still was not closed. It turns out he reassigned the purchase to a third party. We are now on 5 1/2 months and still not closed. I want to cancel escrow and resell to another buyer. Can I do this??

Answer

Zip Code 44160 doesn't seem to exist; if it did, you'd be in Northern Ohio, possibly in the Cleveland area. In any case, advising you would require (a) reading the agreement of sale, and (b) interviewing you in some detail about the buyer, his relationship to you, and your recent communications with him (if any). Hopefully your contract has some time requirements in it, so that you are able to notify the broker that you regard the contract as breached due to his failure timely to perform, and that you are canceling. Otherwise, withdrawing from the contract would risk a lawsuit. The facts you give, although somewhat limited, immediately cause me to be somewhat suspicious of the broker/buyer's business ability and/or honesty. If by "escrow owner" you mean "escrow holder," something is fishy because escrow holders are not supposed to become involved as principals, at least without everyone's prior consent and also withdrawing from the escrow-holding role.