Legal Question in Real Estate Law in Wisconsin
real estate deal in writing cash offer
the buyer backed out of the deal after signing a cash offer, going through home inspection and signing another offer to close? what are our legal rights? if we can sue, what losses can we recover?
1 Answer from Attorneys
Re: real estate deal in writing cash offer
An attorney can only advise you about your rights under a contract after looking at that contract and discussing the status of the elements and conditions of that contract. However, assuming that the offer to purchase is the standard WB-11 and that you are correct in that all the contingencies are satisfied you would be able to do one of the following: 1) keep the earnest as liquidated damages; 2) sue for actual damages; or 3) sue for specific performance. Lines 228-234 of the Offer to Purchase discuss your remedies. If you would like further information please contact me by email at the address provided below. Thanks.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
