Legal Question in Real Estate Law in Kentucky

Re: What is Seller's rights when a Buyer default's on a home contract

I do not have access to your contract and would be unable to give you specific information. With something this important, you will need to consult with local counsel who is familiar with real estate law. Generally your contract will, in most cases, set out remedies which may include your keeping the deposit, etc. In the situation where the prospective purchaser just changed their mind, the contract can be enforced and the purchaser forced to comply with the contract. If, however, their performance was contingent on an event such as certain financing or interest rates, etc (which should be in the contract)then other remedies may apply. Speak to your broker and consult local counsel.