Legal Question in Real Estate Law in Virginia

closing on a new home

I'm supposed to go to closing on a new home on 12/15/16.My husband and I are separating and not buying the new home. Are we legally obligated to close on this home. The sales person is telling me that we have no choice but to close. I know I will loose money buti no longer want to buy this house as I am preparing for a divorce.


Asked on 11/26/06, 3:42 pm

2 Answers from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: closing on a new home

If you signed the purchase contract for the home which has no contingency clause that would give you an out, I'm afraid you're pretty much stuck with the new home until you and your divorcing spouse can arrange to sell it.

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Answered on 11/26/06, 7:56 pm
Daniel Press Chung & Press, P.C.

Re: closing on a new home

Unless there is a contingency that would let you out, or a breach by the seller, you are obligated to close. The question is what would your damages be if you breach. It may be that you just lose your deposit, or you may be liable for whatever damages the seller suffers (which could be significant). You need to consult with a lawyer who can advise you on your options.

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Answered on 11/26/06, 9:55 pm


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