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Real Estate
Reply to "Buyer backing out of no contingency contract"
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[quote=Anonymous][quote=Anonymous]Agent here. So the buyers essentially presented an offer that had no contingencies and they want to walk. Wow. I can't say this isn't unusual because buyers are doing all sorts of things to get houses. You could actually sue them for the deposit and more - but this is up to a settlement attorney to decide first. The settlement attorney should hear both sides and then tell the buyers - you don't get your $2K back. The buyers need to agree to release it. If they fight, they actually still have an interest in the house and you can't relist or sell to anyone else until you agree to give these asses back their money and they sign a release. It's pure and utter BS, I have a buyer who got cold feet the MORNING of settlement and is current in litigation for the deposit back which the seller won't release. Can't blame the sellers for fighting my client. In your case and in the case with my client - if the buyers win and get to walk away and keep their deposit, it sets a whole new precedent for contracts becoming meaningless. Unbelievable. Call the settlement attorney tomorrow and see what they say. Will you report back? I'm curious.[/quote] There are so many things wrong in this post. Don't take all above to heart, hire a contingency attorney.[/quote]
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