THE BUYERS WALKED THROUGH THE HOUSE JUST BEFORE CLOSING AND THEN REFUSED TO CLOSE, SAYING THE HOUSE WAS NOT IN THE SAME CONDITION IT WAS IN WHEN THEY MADE THEIR PURCHASE OFFER. WHAT CAN I DO?
Your course of action will depend on the nature and extent of the condition that is unacceptable to the buyer. There are a range of options starting from negotiating between you and the buyer for correcting or restoring the condition, to canceling the purchase agreement, either by mutual agreement or statutory cancellation. You may also be able to initiate litigation for specific performance (forcing the buyer to purchase the property and “perform” under the purchase agreement) or for damages. Because there can be serious consequences in any avenue that you choose, you need to be properly advised by a lawyer as soon as possible.
Related Questions
- THE BUYERS WALKED THROUGH THE HOUSE JUST BEFORE CLOSING AND THEN REFUSED TO CLOSE, SAYING THE HOUSE WAS NOT IN THE SAME CONDITION IT WAS IN WHEN THEY MADE THEIR PURCHASE OFFER. WHAT CAN I DO?
- Do I need legal advice when making an offer on a house, signing a purchase & sale, or when signing closing documents?
- After I have found the house I want to purchase, what are the typical steps involved in writing an offer?
