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