Buyer Breach Of Contract
Hi all...newbie here...
We accepted a buyers offer for our home (they accepted our 1st counter offer). We opened escrow. The next day the buyers agent calls to say buyer is backing out of escrow. they are well within the 17 day period as outlined by CA DRE.
Here's the rub. The buyer has not signed escrow cancellation instructions and we are now well beyond the 17 day mark. My agent cannot get ahold of the buyers agent. The buyer did not deposit the 3% as they were supposed to.
My question: do I have any recourse to try and get that 3% deposit since they are in breach of contract?
any help is appreciated...
elisabeth
depends if you want to. The buyers intention is clear thier agent was unprofessional. Thats messy if you want a mess this could be the outcome.
You go after breech of contract. If the buyers pay the earnest money. They can lean you deed clouding the title makeing a quick sale impossable untill the lean is lifted by the buyer or court
go after the agent. they messed up. they pay..thats what errors and ommisions insurance is for.