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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 116715
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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I just lost the buyer on my townhouse due to the fact that

Customer Question

I just lost the buyer on my townhouse due to the fact that the property management company.
Failed to renew the FHA APPROVAL.
Do I have any recourse ?
Submitted: 12 months ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 12 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
If the property management company was negligent in renewing the approvals and it was their responsibility to do so, then they are liable to you for all damages reasonably flowing from that negligence. If you can prove you lost the sale because of the negligence of failure to obtain the FHA approval, then you can sue them for that loss, but you need to try to find a new buyer in the meantime to mitigate that loss. So yes, if you get less than what that first buyer you lost was going to pay or suffer any other loss, you can sue the management company for their negligence.