In this instance, let’s say the buyer backs out after the final walk through due to an emotional reaction about something. All contingencies are past. Seller stands to lose $50K+ due to the failure to perform. Obviously the buyer loses earnest money but what about damages?
The information provided is for general information and does not form an attorney-client relationship. See our .Bill HenryFounding Partner | 18 years of experience
Bill HenryFounding Partner 18 years of experience
There is nothing like an Anticipatory Repudiation Letter in situations like this to bring the buyer back to the table for closing, assuming he is actually able to close. How strong your case is depends on a lot of factors and the specific language in your contract. We can help you. You can schedule a case assessment 24/7 by calling 303-688-0944 or online at https://calendly.com/case-assessment/case-assessment. At your appointment, we'll meet by phone or video (Zoom), we'll discuss your contract, concerns, desired results, rights, remedies, the law, the process, timeline, how we can help, costs, etc.
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