Buyer Backed Out At Closing – Legal

My in-laws are selling a shore home and had a contract. Monday would have been the closing and the buyer has backed out. Who is responsible for any fees incurred during the transactions to this point?
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Your answer is contained in the purchase agreement which you all signed. Lack of such language would mean that you would have to seek a remedy outside the contract through court. Check over the contract (under default) & then, if necessary, with a Real Estate Attorney.

Related posts:

  1. Closing Cost’s
  2. Nothing Signed When Purchased Home
  3. Can A Contract Be Broken ?

Real Estate Questions By : Richard Landuyt


Richard J. Landuyt - Real Estate One - 21250 Hall Road - Clinton Township Michigan - 48038 - (313) 407-9654