Q: What protection does a buyer have if the seller cancels a sale of a property already under contract at the last minute?
A friend of mine was waiting to close on a purchase of a townhouse and already had the loan approved when the seller decided to cancel at the last minute. They are upset because they were already planning to send their children to a new school, and now their plans have been disrupted. Do they have any legal recourse against the seller? The property they were trying to buy is now back on the market.
A: It is quite unusual for a seller to back out of a deal, which raises the question what reason the seller gave. In any event, assuming that the seller did not have the right to cancel the deal, the buyer can sue for specific performance, where the court would require the seller to sell to your friend.
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