Q: Can I file suit against the buyer's agent, buyer, and or buyer's lender of my home for breach of contract?
On 10/22/18, the prospective buyer of my home in Maryland signed a contract to purchase and I countersigned that contract on 10/23/18 with a closing date of 11/16/18. I simultaneously had a contract to purchase a home in Colorado with a closing date of 11/16/18 however, the contract to purchase the Colorado home fell through three days before closing because the buyer of my home in Maryland was denied his loan by his lender because he lied about having a job and falsified paystubs and bank statements.
A: You might have a basis to forfeit the buyer’s deposit based upon misrepresentation. The buyer beached the implied covenant of good faith dealing.
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