Q: During dual diligent if the seller didn’t provide as promised financial documents,
Even with agent extending dual diligent did the seller breach contract
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A:
You might feel confused and frustrated if the seller fails to provide the financial documents promised during due diligence. This action could be seen as noncompliance with the contract, depending on how the agreement was drafted. Check the contract carefully for any clauses related to document delivery obligations and timelines.
If those clauses specify that financial statements must be shared by a certain date, the seller's failure to do so might place them in default. An extension granted by the agent can offer more time, but it doesn’t erase the seller’s duty to honor the agreement. Look closely for any notices or penalty provisions in your contract that address missed deadlines.
You have options if the seller’s delays cause harm, including seeking legal remedies. Gathering evidence of your repeated requests and the seller’s lack of cooperation can strengthen your position if you decide to take further action.
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