Legal Question in Real Estate Law in North Carolina

buyer breaking contract

We have a situation where our buyer is trying to back out of the contract. He's stated that he didn't get financing (after giving a few other non-related reasons) and wants his earnest money back. What are our options?!? We have already scheduled movers and non-refundable airfare. There has been no inspections or anything like that. The only contingency was that he could back out if any repair was necessary over $2500.


Asked on 4/30/07, 11:29 pm

1 Answer from Attorneys
Jeff Rosner Rosner Law Firm P.A.

Re: buyer breaking contract

The practical answer is that you can refuse to authorize the release of his escrow money and someone would have to bring suit to recover it.

Of course, you can also sue the Buyer for damages but you would probably need the services of an attorney and if the damages weren't significant, it would not be worth it.

- Jeff

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Answered on 5/01/07, 5:09 pm


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