Reply to Buyer backing out of no contingency contract

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[quote=Anonymous][quote=Anonymous]We dont even have a settlement date yet. We signed the papers last week and are waiting for the appraisal, which they also stated in the contract that they would cover if it comes in up to 10k below sales price. Our agent is trying to save the deal and I will report back. Just seems odd that it is so easy to walk away. This is extreme but can I force them to buy, isn't this a breach of contract? I too think its crazy that a signed contract is useless.[/quote]

A signed contract is useless until you enforce it. To enforce costs time and money and your chances of making the buyer perform are slim
You are also unlikely to e able to kep the $2,000 deposit because the buyer will refuse to sign a release of the contract.   You can always try to re-sell the property pending the release but then you would have to beg a re,ease from the buyer and they would want more money from you to sign it.   Better sign now and make them release their interest in your property

A contract is good when the parties proceed in good faith.  If not, your situation occurs[/quote]

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