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Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 33098
Experience:  30 years of real estate practice experience.
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What are remedies if there are judgments when closing on

Customer Question

what are remedies for seller if there are judgments when closing on real estate
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Loren replied 1 year ago.

Good afternoon. I am Loren, an Illinois licensed attorney, and I look forward to assisting you.

If the seller is unable to deliver clear and merchantable title when promised under the contract then buyer can sue for breach of contract and obtain money damages, which may include the cost of the inspections, plans, reports, etc. done in preparation of purchasing the property. Also, any other financial loss would be recoverable.

They also have the equitable remedy of specific performance which is basically the court forcing the seller to comply with the contract, if possible. That may involve the court forcing them to pay off the judgments.