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Sagamore Hills : Real Estate Advice

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  • Home Buying4
  • Home Selling1
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Activity 4
Wed Sep 15, 2010
Stephanie asked:
With the winter coming and the house falling through two times because the bank was taking too long (bidders found new property to buy) ... what do you think my chances are? The status...
0 votes 1 answer Share Flag
Wed Feb 2, 2011
Jim Dvorovy answered:
Hi Ginger,

For some reason there was no reference to the condo's MLS number nor address. Can you supply it?
Thanks,
Jim Dvorovy
Cutler Real Estate]
Cell 330-685-4615
0 votes 2 answers Share Flag
Sat Jun 6, 2009
The Tim Wood Group answered:
Hello Nick.

Sorry to hear about the situation.

The answer to your questions does depend upon the contract you used. I am not an attorney and they may the only ones truly qualified to answer your question.

The key question I would ask is did the buyer have a contractual right to back out?

In CA, the typical contract gives the buyer a due diligence period to investigate the property. After that time period has passed, and the buyer has removed all of their due diligence contingencies in writing, then they could be liable for the default.

What recourse you have will depend on the contract? Assuming the buyer did default, you might have right to their deposit or more.

I would recommend speaking with your agent or attorney about your options.\

Good luck!
... more
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Sun Nov 11, 2012
Lawrence answered:
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