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The Louisiana Record reports that real estate brokerage firm Gardner Realtors is seeking to have a New Orleans court take charge of a $50,000 deposit it is holding after a real estate deal fell through.
GBS Properties LLC, formerly Prudential Gardner Realtors, filed suit against Regions Bank of Alabama, and Mary Mason Crosson of Texas, in the Orleans Parish Civil District Court on Dec. 13, 2013.
From the Louisiana Record article:
“According to the suit, Gardner Realtors was the broker for Eleanor Farnsworth, a well known listing agent in the attempted sale of 2507 Prytania St. of New Orleans. On Aug. 22, 2008 Regions Bank and Mary Crosson came to a buy or sell agreement, with Crosson as the buyer. The buyer’s agent, Brigitte Fredy, delivered a $50,000 deposit, to be held in escrow by Gardner. Closing took place on Sept. 8, 2008, but Farnsworth was informed that Crosson would not be going through with the sale. Now, both Crosson and Regions have allegedly made requests that the deposit funds be released to them, therefore Gardner considers these funds to be in dispute.”
Before the deal fell through, the purchase price was to $1.6 million. According to city records, Regions later sold the property in 2009 at a sale price of $1 million.