Q: Can sellers realtor sue me if I cancel purchase agreement when closing did not occur by date listed in Purch. Agreement?
My realtor says I was within my right to cancel but also suggests I release all or part of earnest money to seller to make the sellers broker go away. Will I end up paying more if he takes this to court? Closing was to occur by 4/23 and I cancelled on 4/28.
A:
Generally "no," the seller's agent has no rights against you directly for commission or any other fees. Their agreement is between the seller only. However, a buyer's agent can bring an action against you for their portion of the commission that buyer agent would have earned had you closed. The seller may have an equitable action against you (depends on the remedies set forth in the purchase agreement) for specific performance and can compel a sale.
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