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Lucy, Esq.
Lucy, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 30168
Experience:  JA Mentor
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I have an agreement of sale to sell my house. I was supposed

Customer Question

I have an agreement of sale to sell my house. I was supposed to have a written loan commitment by April 10 and haven't gotten one from anyone. Can I cancel this contract and not be sued for non-performance? The realtors have messed this deal up and are trying to blame me.
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Marion County, Florida
JA: Has anything been filed or reported?
Customer: Do you mean the contract of sale? So far I know of nothing being officially filed.
JA: Anything else you want the lawyer to know before I connect you?
Customer: I guess not.
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Lucy, Esq. replied 5 months ago.

Hi,

I'm Lucy, and I'd be happy to answer your questions today. I'm sorry to hear about your situation.

The buyers are in breach of the contract for not giving you a written loan commitment. However, they have a right under the law to cure their breach before the contract is cancelled, especially if the contract does not say "Time is of the essence." It's unfortunately very common for deadlines in real estate sales to get pushed back. But what you can do is point out that they're in violation of the contract by not providing the loan commitment and let them know that they're in breach. Give them a deadline - the actual deadline is up to you. You could give until the end of the month, or two weeks. Anything less than a week might not be enough time if they're still applying for loans in good faith. See what their response is and go from there. If they don't respond, or if they don't have a loan commitment, then you'd be more within your rights to tell them you're canceling the deal.

If the realtors are trying to blame you for the deal falling through, you want to be able to show that you did everything you were required to do. Giving the buyers more time to produce the loan commmitment will help with that.

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