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A breach of contract can be any breach of any provision contained in your real estate contract. However, the remedies available to the non-injured party depend on whether the breach was significant or minor. Valuation concerns: If a property`s valuation is below the expected asking price, a seller may not want to lower that price or negotiate their terms and prefer to terminate the contract instead. The parties may wish to agree in advance on the amount owed by an infringing party. This amount is specified in the contract and will not be contested in case of breach. This is referred to as lump sum damages. However, for lump sum damages to be enforceable, they cannot constitute a form of punishment against the injured party. In addition, lump-sum damages are generally enforceable only if it is determined that the calculation of actual damages for the respective infringement is difficult and that lump-sum compensation is reasonable in the circumstances. An example of lump sum damages can be found in a standard residential purchase agreement, which states that the seller is entitled to retain the deposit if the buyer fails to comply with its contractual obligations. In fact, after signing a contract, both the buyer and seller have a 5-day review period by a lawyer to withdraw from the agreement without any consequences. Some contingencies may also provide a way out of the agreement for a limited period of time. After that, terminating a real estate contract can be a lengthy and costly court case – and for good reason.

There is a particular advantage when the court orders the injured party to take a certain measure. As a general rule, under contract law, even if a party materially violates the contract, the law only requires the payment of pecuniary damages – it does not require the infringing party to take any specific action. The seller may attempt to cancel its sale to the buyer after receiving a higher offer from another potential buyer. However, instead of being honest, they will try to get out of the sale by breaking the contract so they don`t have to sell you the house. Under California law, a contract for the sale of real estate must be in writing. When the parties sign the real estate contract, they accept all the terms and conditions contained in the agreement. Violation of one or more of these terms and conditions will result in a breach of contract. At Scaffidi & Associates, we combine our knowledge of real estate law with our passion for competent and competent courtroom representation to ensure you are protected throughout your real estate experience.

If you are facing a breach of a real estate contract, we can help you. Contact us today. That depends! If the seller breached the contract without a valid legal reason and you have your home inspection costs out of your own pocket, you may be able to sue the seller in small claims court for infringement and claim reimbursement of your home inspection fees and expenses. If the seller decides to break the contract and keep his house, he can do so, but the court can order the buyer to receive money for the resulting violation. In general, money owed to the buyer can include the buyer`s refund with: As tempting as it may be to pull the trigger and get out of a contract, once you`ve decided to end a transaction, it`s wiser to pause, take a step back, and consider other legal means. This is because while buyers can only lose the serious money they have deposited as a down payment for the purchase of a home by withdrawing from a purchase agreement, sellers face additional potential consequences. Examples: It is important to have an experienced lawyer who is able to formulate a successful strategy to manage your infringement case. Infringement procedures are fraught with pitfalls. We will work with you side by side to ensure that you receive appropriate compensation for misconduct by a buyer or seller. Our real estate contract infringement lawyers serve Fort Lauderdale, Broward County, Miami-Dade and the state of Florida.

Sometimes the reason the seller sells his home is because he had a new job offer and had planned to move. However, if the job offer fails, the seller is obviously reluctant to sell his house given the new situation. Whatever the reason, your lawyer will review the existing contract that was signed and look for legal loopholes to determine if the seller had a valid reason for the breach. They will then discuss your case with you and introduce you to the best remedy, how to proceed and what path to take. If you are a party to a real estate contract that you believe has been violated, or if you need advice on your rights and obligations under a real estate contract, contact our experienced and knowledgeable team of real estate lawyers at The Myers Law Group today. It is enforceable only if it is determined that the calculation of actual damages for the respective offence is difficult and that the lump sum compensation is reasonable in the circumstances. An example of lump sum damages is usually seen in which the buyer violates the housing contract and the seller is allowed to sell to another new buyer, but is also allowed to withhold the deposit of the previous infringing buyer. The agent sues for compensation: If you are a home seller who has used the services of a real estate agent and suddenly and unexpectedly leaves a business, you may also be in breach of the contract with your listing agent. This listing agent, who takes the trouble to find buyers and advertise your home for sale (and expects to be paid via a commission on the sale), can also sue you for payment of that commission. If the buyer does not fulfil the conditions of his contract before the conclusion, the most common of which is not to guarantee the financing or his mortgage within a certain period, the seller is free to terminate the contract before the closing date. As we have already discussed in this article, if the seller has an “exit clause” or an “emergency clause” in the contract, he can terminate the contract for any reason, so that the escape or emergency clause is properly formulated to allow such an “escape”.

In addition, these clauses may not be easy to spot, may not necessarily be in bold or in a separate paragraph, and may only contain a few sentences in an existing paragraph. We receive many requests from real estate agents, sellers and buyers when one seller or buyer refuses to complete the real estate transaction and the other party suffers the consequences. Since real estate agents spend a lot of time and money selling properties for their sellers and finding properties for their buyers, they are also harmed by the inability to charge a commission at closing. Below is a general overview of the remedies available to sellers and buyers if the other party refuses to complete the real estate transaction. .