Learn What To Do If A You are in Breach of Real Estate Contract by Seller
When a seller breaches a real estate contract, it can be a major inconvenience for the buyer. In some cases, the buyer may be able to sue the seller for specific performance, which is a court order that forces the seller to sell the property to the buyer. However, this can be a lengthy and expensive process.
What Happens In a Real Estate Contract When a Seller Doesnt Want to Sell?
What are the most common reasons for a seller breach?
There are many reasons why a seller might breach a real estate contract. Some of the most common reasons include:
- The seller finds a better offer from another buyer.
- The seller changes their mind about selling the property.
Can I Sue For Breach of Real Estate Contract?
What are the legal options for a buyer who is the victim of a seller breach?
If a buyer is the victim of a seller breach, they have several legal options. They may be able to:
- Sue the seller for specific performance.
- Sue the seller for damages.
- Terminate the contract and sue the seller for the return of their deposit.
What are the pros and cons of each option?
- Specific performance: A court order that forces the seller to sell the property to the buyer. This is the most desirable option for buyers, as it ensures that they will get the property they want. However, specific performance can be a lengthy and expensive process.
- Damages: The buyer can sue the seller for the financial losses they have incurred as a result of the breachsuch as deposit. However, damages can be difficult to prove, and the amount of damages that the buyer is awarded may not be enough to cover their losses.
- Terminating the contract and suing for the return of the deposit: The simplest option for buyers. However, this may not be enough to cover the buyer’s losses, as they may have incurred other expenses, such as appraisal fees or inspection fees.
What Happens when a Seller Doesn’t Want to Sell while under a Pending Real Estate Contract?
What is the best way to protect yourself from a seller breach?
The best way to protect yourself from a seller breach is to have an experienced real estate attorney review the contract before you sign it. An attorney can help you understand the terms of the contract and identify any potential problems. You should also make sure that you have a good understanding of the financing process.
Finally, you should be aware of the risks involved in buying real estate. Real estate transactions can be complex, and there is always the possibility that something could go wrong. By understanding the risks and taking steps to protect yourself, you can help to minimize the chances of being the victim of a seller breach.
Breach Of Real Estate Contract Remedies
Contact an Experienced Real Estate Attorney
If you have been the victim of a seller breach, you should contact an experienced real estate attorney as soon as possible. An attorney can help you understand your legal options and protect your rights.
Contact Oppenheim Law
Oppenheim Law is a Florida law firm that specializes in real estate law. We have over 30 years of experience helping buyers and sellers protect their rights in real estate transactions. If you have been the victim of a seller breach, please contact us today to schedule a consultation.
Call us at 954-384-6114