Sorry to hear about your loss! As others have stated a sharp buyers agent or attorney would have warned you about the â€œfinding another house contingencyâ€ and if you had your heart set on it recommended some sort of penalty if they didnâ€™t find another home in time. Though Iâ€™m not sure how that would have worked unless they were already in contract on the new home -but in any case I am not an attorney and cannot give legal advice. As it can take months these days to close on a home that needs financing and even longer to find the home of your dreams, I suspect you bought this house from the listing agent?? Maybe they also recommended the lawyer you used?
I guess you are lucky that they backed out in 3 months rather than four. The good news is that after the holidays in the dead of winter you might get yourself an even better deal as many people get fed up with the weather when itâ€™s cold and decide to move somewhere warmer..
Something similar is an issue here in Manhattan when there is a tenant in place and I find the listing agents always assure you the tenant will move out when the apartment is sold.. When finding condos and coops for buyers I will tend to avoid those with a tenant in place because in NYC, it can be very difficult to get a tenant out that doesnâ€™t want to leave..Do consider getting a local buyers agent in the future (I believe some have answered your question here)
Best of luck to you in the future!
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