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In the dynamic world of real estate, there may be situations where a seller decides not to proceed with a residential real estate contract, leading to a breach of the contract. This can occur due to various reasons, including seller’s remorse, personal circumstances, or difficulty finding a new place to live. In these cases, buyers must be aware of their options.

When a seller breaches a contract, the buyer can initially demand their deposit back. If the buyer is determined to purchase the property, they can file a lawsuit for specific performance, seeking a court order to enforce the contract and compel the seller to deliver the property as agreed. This process can be expensive and time consuming.  In addition,  contracts typically include an attorney fee provision, which means the losing party may have to cover both their own and the winning party’s legal fees.

Real Estate Seller Disputes

During the litigation, a lis pendens is filed, effectively preventing the seller from selling the property until the matter is resolved. While the seller may still lease the property, they will likely choose to stay. In some cases, negotiations can lead to a resolution where the seller pays an additional sum to the buyer, allowing  the Buyer to walk away from the deal.

Sellers may attempt to find technical reasons to argue that the buyer was in default, using it as a pretext to avoid closing the transaction. Such situations highlight the importance of having legal representation for both sellers and buyers in real estate transactions, especially when uncertainty arises regarding the seller’s commitment to closing.

If you are facing a breach of contract situation, either as a buyer or a seller, consider reaching out to Oppenheim Law at 954-384-6114.