Legal Question in Real Estate Law in Virginia

breach of contract

My friend is trying to buy a house and I am the realtor in charge. We were scheduled to close on the home she purchased today (5/10/00) at 4:00 p.m. At 2:00 p.m. the bank in question called and said they were not going through with the loan because of a change in policy effectife 5/1/00. They approved the loan on 5/4/00. Can we sue for mental anguish or breach of contract? If not, what are our choices? We have been waiting on this bank since March!


Asked on 5/10/00, 9:15 pm

1 Answer from Attorneys
Bruce Marshall Durrette, Irvin & Bradshaw, P.L.C.

Re: breach of contract

You may have a breach of contract action, but emotional distress or mental anquish type damages would not be recoverable.

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Answered on 6/30/00, 11:59 am


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