Home Selling in 54840>Question Details

Veejay, Home Seller in Grantsburg, WI

who is responcible for closing costs when buyer backs out of the agreement prior to the final closing.?

Asked by Veejay, Grantsburg, WI Wed Jun 16, 2010

This question pertains to a land contract purchase agreement.

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Answers

2
If there isn't a closing there are no closing costs involved. Depending on how the contract was written the earnest money might be an issue.
0 votes Thank Flag Link Wed Jun 16, 2010
If there is no closing, there is no closing cost. When did the Buyer back out? Was the contract cancelled, if so why. Was it done during the due dilligence period? What is the status of the earnest money deposit.There are a lot of questions that need to be answered. I am sure that your agent can provide you all the details. If you don't have representation then you need to review your contract. Hope everything works out for you.
0 votes Thank Flag Link Wed Jun 16, 2010
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