Q: What am I able to do if home seller breaches contract and "doesn't want to sell their home" now?
Located in Kentucky. I went under contract to purchase a home for $250,000. After appraisal, the property was valued at $240,000. I also paid for an appraisal asking for the home value after significant remodels and renovations were done. That appraisal came in at $320,000. The seller has since backed out of the contract, refusing to sell the home. I have incurred costs pertaining to legal fees as I have full custody of my children, and needed permission for my ex wife to move. Obviously the "escrow" deposit. And potentially losing $50,000 to $70,000 in potential equity of the home.
A: Consult with a KY attorney about suing for Specific Performance. Hopefully you were ready to execute the contract. If you win, you have to have the money to purchase the home the Court says you can buy. Other damages are doubtful.
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