Legal Question in Real Estate Law in Virginia

Potential Breech of Contract

I am selling my home and accepted a non-contingent offer. The buyer followed through with the financing letter, went through with the inspection, and submitted their list (minor) of repairs. A week later, they pulled out of the deal based on the ridiculous out of not having signed off on reciept of HOA docs (I have not pending issues with my HOA). My house was off the market for over a week based on their intent to buy. I will also likely be negatively impacted by changes in the mortgage market over the past week. Do I have any legal recourse, including pursuit of their deposit?


Asked on 8/31/07, 10:22 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Potential Breech of Contract

I believe that the applicable Virginia statute gives a prospective buyer of real property covered by HOA covenants some 72 hours within the signing of a contract to be given copies and to approve the HOA documents. This is a requirement of law and not merely discretionary and if you failed to comply with these requirements, I would now adjudge you to be without a remedy with respect to this now reneging buyer.

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Answered on 8/31/07, 11:38 am


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