Seller Breach Of Contract Real Estate
You can sue for something called "specific performance" which means getting a court to order they abide by the terms of the contract. You can sue for damages as well if the breach cost you some types of expenses because you relied upon the seller’s promises.
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When a real estate contract is breached by the purchaser, the measure of Seller damages under Texas law is the difference between the price the seller was to receive and the market value of the property. Specific performance can also be enforced.
Suing for breach of contract would be especially advantageous when the real estate market is declining. The amount of damages that a court may award include the difference between the contract price of the home and its fair market value at the time of the breach and/or interest accrued from the date of default.
A seller may breach the contract by not fulfilling any of the agreed upon terms in the contract. Common examples of a seller breach include failure to provide a clear title to the property, failure to make required repairs for the property to pass inspection or failure to vacate the property before the agreed upon date of possession.
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For more details about the possible adverse results of breach of contract by either the home seller or buyer, please consult a local real estate attorney.
What can buyer do when seller breach the contract? Asked by Akl, San Fernando, CA Sat May 3, 2008. Hi, I recently got accepted for my offer to a short sale home. The lenders approved the price, the seller agreed the price and all contigencies, and both seller & buyer agreed and signed the contract to sell and buy.
If the Seller broke their contract with you, you need to contact an experienced real estate attorney right away and inform them of the facts, as to what happened, and your thoughts and feelings of the actual reason why the Seller broke the contract.
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Real estate contract specific performance requires the buyer and seller to a real estate sales contract to complete. court when money does not fully compensate a person damaged by a breach of a.