Reply to Buyer backing out of no contingency contract

Forum Index » Real Estate

Reply to "Buyer backing out of no contingency contract"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]6:58- huh?  As a pp pointed out, the OP is keeping the earnest money due to the buyer pulling out.  That's all the OP gets, and while a very frustrating experience, I think that is the expected (and "fair") outcome.

Yes, we all wish the earnest money was a larger amount for the OP.  But it wasn't.[/quote]
New poster (a lawyer, but not a real estate lawyer).  I'd imagine that in addition to the EMD loss, OP also could sue for breach of contract, and claim as damages whatever injury she suffered.  She had a contract to sell for $390, and let's say the best contract she can get now from another sale is $370.  I'd imagine she can sue for the $20 difference, plus any other costs associated with further advertising or open houses to sell the house.  I suppose it's possible the contract might say the EMD is all OP gets, but I sort of doubt that.  The big question is whether OP really wants to go to the trouble and expense of suing for the difference.

If it were me, I'd probably threaten to sue over the $20, but then agree to split the difference at $10.  Just as I don't want to deal with the headache of a lawsuit, neither does the buyer who backed out.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics