Q: Rights of Buyers with a Seller that is now wanting to back out of sale due to title issues.
We entered a sales contract with a VA loan to downsize with a seller to purchase a villa (no HOA fees, dissolved fifteen years ago that owner has been aware of) that was marketed/priced/appraised with a pool/yard privately fenced. The pool was included in Seller disclosure as part of the sale. There was a title issue, closing was suppose to take place July 10th and seller agreed to correct by August 8th. Now, the seller has hired an attorney, wanting us to sign release form on said property. As the buyers, we have spent approx. $3200 and time thinking we were buying this property. We were told she does not have to pay back our fees. We were also told by the neighbor that she was aware of this issue on property (only this building) and had tried to sell before. What are the Buyer rights to go after the Realtor and her client, for misrepresentation of property so this does not to happen again to another buyer and reimbursement rights.
A: Your rights in this situation are dictated by the sale contract between you and the seller. Generally, if a seller breaches the agreement you can sue for specific performance of the contract. You could sue for damages, but you have to show monetary loss and lost time is not generally compensable. Other rights and damages available will be set out in your contract. You should consult with an attorney to find out what damages specifically apply to your situation.
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