Legal Question in Real Estate Law in Florida
Breach of Contract
I am purchasing a home and my closing date is on 9/20/2003. All the documents needed are at my bank already, but now the seller of the house wants to walk out of the contract.
I have already spend money on the home inspection, apprasial, not to mention the time. On top of this the interest rate on my Mortgage will be a lot higher if I go with another property, becase I was able to lock a lower rate when I found this home.
What can I do? I am very interested on this house plus I already gave a $3000 escrow to the title company the day I signed the contract.
3 Answers from Attorneys
Re: Breach of Contract
I strongly urge you to follow the advice given by Mr. Gonzales. The sooner the better.
Re: Breach of Contract
The contract dictates the relationship. If the Seller is obligated under the contract he will breach and you will be damaged if he walks away.
If there is a broker involved see if he or she can smooth things over but make sure your interests are protected.
Feel free to drop me an email or give me a call at 941-954-4691
Re: Breach of Contract
NOTE: This communication is not intended to be legal advice. Instead, it is intended solely as a general statement regarding legal principles. You should not rely on or take any action based on this communication without first presenting all relevant details to a competent attorney in your jurisdiction, receiving such attorney's individualized advice for you, and establishing an attorney-client relationship. By reading this "Response" to your question or comment, you agree that the opinion expressed herein and/or the information contained in this response is not intended to, nor does it, create any attorney-client relationship with the law firm of Gonzalez & Associates, P.A. or any of its attorneys, nor does it constitute legal advice to any person or entity reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree with the foregoing, then you are instructed to stop here, and do not read any further.
Review the terms of the contract to determine your remedies or options in case the seller breahces the contract. Typically you have a right to file suit for specific performance to force the seller to convey title to the property, and recover any costs or attorneys' fees incurred in having to pursue legal action. You should meet with a real estate lawyer experienced in real estate litigation as soon as possible.