Legal Question in Real Estate Law in Texas

Default of Purchase Contract

I am the buyer of a residential property, and would like to default on the contract. According to contract ''If Buyer fails to comply with this contract...Sell may a) enforce specific performance, seek such other relief as may be provided by law, or both, or b) terminate this contract and receive the earnest money as liquidated damages''

My question is what damages could the seller claim in a lawsuit? Also, can the real estate brokers file suit for their commission? How about the mortgage company for their fees?


Asked on 12/12/08, 8:14 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Default of Purchase Contract

The seller has potentially lost sales. However, specific performance is most often sought by buyers because of the uniqueness of the house. Sellers often just look for money damages. Real estate brokers may sue you for the fees. Mortgage company typically keep the fees they have already charged you. Most often it is for credit report and appraisal.

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Answered on 12/13/08, 5:49 pm


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