Q: What do you do when you have a signed contract for real estate purchase, and then the seller walks away?
I submitted a contract with earnest money to purchase a home. The seller went silent right before closing. My (buyers) contingencies were that HVAC leak be repaired and that boundary encroachment be resolved. The seller's contingencies was that my current home be sold so we could close early. I sold my home and closed 6/4/2024 and stored all HHG pending move-in once we closed on 6/17/2024. The seller failed to fix leak or resolve boundary issue. I submitted an amendment to extend the closing date, but the seller walked away. The seller was negotiating with neighbor over boundary dispute. That neighbor also wanted to purchase the seller's property, but the offer was rejected. The neighbor wanted $40k for the easement for 1.5 sqft encroachment of dock retaining wall. The seller has walked away from the contract and so has the listing agent/broker (C21). It seems illegal to break the contract after I operated in good faith and now have no home and HHG are in temporary storage.
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- Tennessee
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A: Apparently the contingencies have not been cured, so the contract on its face is voided. If you paid out earnest money, ask or sue in GS for it back. With that many serious problems, you knew it would not be executed. Suing for Specific Performance would be crazy. Buy elsewhere and hire an actual attorney to represent you instead of relying on agents and a title co.
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