Firm founder Mark D. Kimball and firm shareholder James P. Ware secured a victory for a commercial real estate investor client following trial in an interpleader action in late 2019. The dispute concerned the return of earnest money based upon a financing and a feasibility contingency found in the purchase and sale agreement. The sellers had argued that MDK Law’s client had waived these contingencies through negotiations prior to mutual execution of the purchase and sale agreement.
In finding in favor of MDK Law’s client, Judge David Whedbee adopted MDK Law’s theory of the case and found that the clear language of the contract allowed MDK Law’s client to terminate the contract before the expiration of the contingency period and/or if the client was unable to obtain financing. The court found that the client acted in a timely fashion when she gave notice that the subject transaction was terminated under a financing contingency and that the sellers lacked legal basis to withhold a refund of the earnest money. As part of the judgment MDK Law’s client was also awarded its reasonable attorney fees and legal costs.
MDK Law has represented real estate investors, sellers, and agents in both transactional and litigation matters for over 30 years. Mark has also been licensed as a Real Estate Instructor with the State of Washington and teaches many CLE seminars for attorneys, accountants and real estate professionals every year.