sellers rights against buyers breaking contract?

Question

The home is sold, all the inspections have been done, waiting to close at the end of the month seems everything is alright , but wait husband and wife split in almost two months in contract. Seller has put down payment on another home, set up for the movers and given final notice to there employer. One of the parties has left, and can't be found everything is on hold. Closing on the other home is in May. Does seller have any recourse against these people since it is so far along in the deal to recoup some of the proceeds put down on other home that will be lost, becides the escrow money?

Answer 1

Your only further option, other than retaining any earnest money in escrow, is to seek legal redress in a court of law. As a real estate broker, I encounter such situations many more times than I like to admit. At least you have a bit of time to attempt to find another quick buyer to replace the one which has 'walked'. Unfortunately, there is no legal way to physically drag these buyers to the closing table and force them to buy the property, absent a court order to do so. Please bear in mind that, should you decide to pursue legal action with a forced closing in mind, you will not be able to sell the house to anyone else in the interim. As we both know, it is not possible to sell one house to two different buyers. I would recommend preparing to obtain 'bridge' financing to allow you to temporarily own two houses while you attempt to sell the one you are moving from. And you DO have my most sincere sympathy, along with wishes for good luck !

Answer 2

a million) that is 4 years later. you haven't any longer any recourse. 2) you will desire to have used an inspector to envision the condition of each little thing. 3) in case you could no longer have the money for to run dehumidifiers in the basement, then you definately can no longer have the money for a $740,000 living house. in the wintry climate you will desire to be working humidifiers and in the summertime dehumidifiers. You try this to maintain a particularly point quantity of humidity in the living house. It keeps swelling and cracking of partitions, flooring, drywall, and so on....to a minimum. I shop a hygrometer in the basement and upstairs so i comprehend the humidity in the living house. those are a pair of greenbacks at Radio Shack. It additionally, needless to say, keeps mould and mould at bay.