Helping 20 Million Americans a Year for 20 Years. FREE!
Find the Right Lawyer for Your Legal Issue!

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential

Call us today for a free consultation (855) 466-5776

What are our rights if our buyer did not go through with the purchase?

Question Details: We signed an Offer to Purchase contract with a cash buyer on 09/19. This was as "As-is, where is" agreement with no warranty or representation. There was a 10 calendar day due diligence period and the closing was set for 09/30. That day came and went and we kept getting the runaround from the buyer. Last week they had another individual come out to inspect the property but we were assured the closing would happen this week. I inquired yesterday and was told this morning 10/29 that they wouldn't be able to do the deal. We did not retain an attorney or real estate agent because this seemed very straightforward. Do we have any recourse other than the $150 earnest money deposit? This has cost us time and 2 mortgage payments.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.