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Buying or Selling a Home/The buyer of my house is backing out of the contract

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Expert: - 9/25/2007


Question
I received a contract on my house back in May.  Setllement was to be Sept
27th.  Two weeks ago my realtor told me the buyer wanted to back out
because she hadn't sold her house (no contingency in our contract).  I found
out that she had only put down $9000 which is only about 2.5% of the price.  
I was shocked.  Can I sue her for breach of contract or sue my realtor for
misrepresentation?  The buyer has more than ample funds to go through with
the deal.

Answer
Yes, Edith. You need to talk to a REAL ESTATE attorney, who will probably suggest suing the Realtor, too. By the way, the buyer cannot receive her deposit back without your signature as long as there is no contingency like you say. You should be suing the buyer for SPECIFIC PERFORMANCE, which is what the attorney will probably suggest. I do wish you well.

Dick Dennis       dixiedee13@aol.com

Buying or Selling a Home

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Dick Dennis

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With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

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National Association of Realtors

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Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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