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RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 23980
Experience:  9+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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WHAT HAPPENS IF I DON'T GO THROUGH WITH THE SALE OF MY HOME

Customer Question

WHAT HAPPENS IF I DON'T GO THROUGH WITH THE SALE OF MY HOME AFTER SIGNING A REAL ESTATE SALE CONTRACT?
Submitted: 2 months ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 2 months ago.

Good afternoon. Can you share with me why you would not want to go through with the sale?

Customer: replied 2 months ago.
Old age and change of heart. 30 years is a long time. Do both spouses have to agree to sell
Expert:  RealEstateAnswer replied 2 months ago.

Thank you for the reply. If a party fails to comply with the contract, perform and close, the buyer can sue them for damages. In this case, it would be any monetary loss or in the alternative, sue or specific performance and ask the Judge to order a forced sale of the home. The contract which was signed should have a damages clause, that lays out what the parties are liable for, in the event of a breach. Both parties do have to agree to sell, since they both have an ownership interest in it and need to sign that away, at closing.

Expert:  RealEstateAnswer replied 2 months ago.

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