How To... in 94513>Question Details

Me, Home Buyer in 94513

How do you deal with a breach of ciontract?

Asked by Me, 94513 Thu Sep 10, 2009

Escrow was suppoed to close September 3, 2009. Today is September 10, and it is still not closed. Seller is has breached the contract,

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Bob & Leilani Souza’s answer
My first step would be to discuss this with your real estate agent. He/she can hopefully explain the delay and/or talk to the seller's agent for an update to find out why escrow hasn't closed. He/she should also ask you this question: Do you still want to buy the property?

If your answer is yes, he/she should draft an extension of time addendum. If your answer is no, he/she should draft a cancellation of contract, release of deposit and joint escrow instructions.

The next step if the above scenario doesn't work out is to contact your real estate agent's broker. If he/she IS the broker, proceed to step 3.

Step 3 is to contact an attorney and let the real estate agent/broker know that you have done so. Depending upon your purchase agreement, you may have agreed to arbitration if a dispute arises. Now it's time for the attorneys to take over...your attorney, your agent/broker's attorney, the seller's attorney and the seller's agent/broker's attorney.

P.S. Here's a link if you need to look up an agent/broker - http://www2.dre.ca.gov/publicasp/pplinfo.asp
1 vote Thank Flag Link Thu Sep 10, 2009
Hello there,

It is very common for escrow to close a little later thent he scheduled date, however, an extension should have been requested by the party needing the extension in writing. Do you know for a fact that its' the seller lingering? I would suggest you find out what's going on and then see how it effects you as trying to win on a breach of contract on real estate matters can be quite expensive and time consuming. Good luck and please feel free to call or email me anytime. You should also visit the CAR website to find out more about your legal rights. http://www.dre.ca.gov/
1 vote Thank Flag Link Thu Sep 10, 2009
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