Legal Question in Real Estate Law in Virginia

Deault of purchase agreement

What are the consequences of cancelling a real estate purchase contract on a new home with a $10,000 deposit?


Asked on 4/23/07, 9:03 pm

1 Answer from Attorneys

Robert Strupp Robert J. Strupp,Attorney at Law, PLC

Re: Deault of purchase agreement

It may depend on the language of the contract and the reasons that you wish to cancel.You could be out the $10,000, or you could be subject to a specific performance suit whereby the seller seeks to require you to purchase.

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Answered on 4/23/07, 9:10 pm


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