![]() You can sue for monetary damages for breach of contract, termination of the contract and return of the deposit (and possible repayment of expenses), and/or specific performance - in other words, forcing the completion of the sale. If a seller defaults in any way, you, as the buyer, have similar options. See Our Latest Listings Here Can a Buyer Default on a Real Estate Contract? For example, if a buyer defaults on a home purchase and the seller can then only sell the home for $50,000 less than the original sales contract, the seller could sue the first buyer for these funds. Another option is to sue for monetary damages for breach of contract. This option is rarely used and even more rarely granted. You can also sue for specific performance – in other words, force the buyer to settle. But, that isn’t the limit of the buyer’s liability. So, what can you do if a party ends up defaulting on a real estate contract? If You’re a Seller Defaulting on a Real Estate ContractĪs the seller, you can keep the buyer’s earnest money.
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