Q: I have a signed contract with a corporation to purchase my property the closing date is tomorrow .
They just sent me a text message saying that they can’t go through with the deal because they can’t get a contractor. However that’s not my problem. Can I take them to court and force them to close.?
A: You can bring a lawsuit provided that the purchase agreement allows you to do so. The legal remedies available to you are listed in the purchase agreement. Most likely, when you are dealing with a real estate investor / company, the only money that you can retain for damages is the amount of the earnest money deposit. Check with a real estate attorney to review the contract. See www.provenresource.com
Kenneth V Zichi and Thomas. R. Morris agree with this answer
A: You will also want to review the purchase agreement to determine whether the purchaser is permitted to terminate the agreement for the reason stated by the purchaser, or for some other reason.
Kenneth V Zichi agrees with this answer
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