Legal Question in Real Estate Law in Virginia

Seller backing out in middle of contract

I'm presently negotiating to buy a property. I am also countering on the contract with the seller. I have already payed a deposit for loan processing and appraisal costs for the property. I did this to show good faith to the seller and the reccomendation by my agent. If the seller decides to take the house off the market before we finalize a contract is that legal? Additionaly is the seller or my real estate agent liable for the costs I payed for the processing fees for the loan? Thank you


Asked on 9/18/05, 10:01 am

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

Re: Seller backing out in middle of contract

Why, of course, it's legal for the seller to take his house off the market before a contract for its sale has been finalized.

And why should the seller and/or your realty agent be responsible for your loan proceesing

fees which you took it upon yourself to incur?

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Answered on 9/18/05, 10:14 am


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