Legal Question in Real Estate Law in Florida

Re: What recourse do I have if buyer cannot close on contract date

If you have an attorney representing you speak to them. If not, call me at 561 998 9401. Your rights depend on the contract you signed.

Re: What recourse do I have if buyer cannot close on contract date

Ordinarily, absent any written terms and conditions stating otherwise, the general rule of contract damages is that: if a party breaches a contract, then the breaching party is responsible for paying the non-breaching party's actual damages that naturally and directly resulted from the breach, plus consequential and incidental damages which the breaching party knew or should have known about.

Should you have any furhter questions or would like to discuss the issues more fully, then contact the undersigned at (305) 769-3000

Re: What recourse do I have if buyer cannot close on contract date

Your rights hinge on the terms and conditions of the contract signed by the parties. Generally, residential real estate contracts in Florida provide the seller with various remedies for a buyer's breach, including specific performance, which means compelling the buyer to purchase the property, and damages which are the actual money damages you suffered as a result of the breach. However, many contracts also allow you to keep the deposits made as liquidated damages even if the deposits are greater than the actual damages you suffered. You need to refer to the contract to learn the rights and obligations you have, and then of course you need to examine the facts to make sure that you have clean hands and that the buyer cannot blame you for not closing. If it's worth the fight, you should retain an attorney. Good luck.