Q: We recently were going to purchase my recently passed dads home. We had it all set and 5 days before closing my
Husband changed his mind. Now the estates lawyer is coming after my husband for breach of contract. Can he do that ? Or force us to purchase
A: Assuming that you have no contingencies remaining in the offer that you could exercise in good faith, then a failure to close on the part of the Buyer is a default. Assuming this is a standard WI WB-11 Offer to Purchase form, if Buyer defaults, Seller may:
(1) sue for specific performance and request the earnest money as partial payment of the purchase price; or
(2) terminate the Offer and have the option to: (a) request the earnest money as liquidated damages; or (b) sue for actual damages.
Of course the underlying tragedy here is that you just lost your father and now his estate threatens to sue you. One would hope that the family and estate would reach an amicable resolution.
Thomas B. Burton agrees with this answer
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