In the unfortunate event that a seller backs out of a real estate deal you are involved in, there are several things that will need to be done to make sure you are protected. We understand that this is a frustrating situation, but it’s important that you have all of the information you need to make the proper decisions moving forward. Please continue reading below to learn more about the steps to take once a seller has backed out of a deal that has been agreed upon. 

We suggest you have a real estate lawyer look over your contract to make sure the seller is legally allowed to back out of the deal without penalty. If you have met all time limits and held up your end of the bargain, you may be able to take legal action. If legal action is brought up, the seller may be inclined to go through with the sale or be willing to negotiate. 

One thing that you can do is to speak with the seller. By speaking to them, you may be able to find out why they no longer want to sell. If they have gotten cold feet and no longer want to sell the property, you may be able to negotiate a refund that covers your earnest money and any expenses that you have incurred.

Aside, from recouping your money, it may also be possible to force the seller to sell through the remedy of specific performance. Other legal options are available as well including a lien. To know all of your legal options it is suggested to reach out to your attorney or one who is experienced in real estate law.

When you are in need of a trusted real estate lawyer, we ask that you give our team at Walter L. Rooth III Attorney a call. We have years of experience handling legal issues associated with real estate deals and will be happy to lend our expertise to your situation soon. We proudly serve those throughout Hamburg, Orchard Park, West Seneca, NY and the surrounding areas.