I refuse to close on a real estate purchase because the seller won't comply with the purchase contract.

Real Estate 7 views 3 answers
The contract provides for wood flooring in the living room and bedrooms and the seller will only provide wall to wall carpeting. The contract calls for a closing date on or about June 1st. If the seller does not come around and the closing date (plus the 30 days window period) expires, I will want my down payment back plus up-front money spent during the purchase process, i.e., I will not want to extend the closing date (after the June 30th expiration date) if the owner does not agree to comply with the contract before then. Instead I will want to enter into another contract with another seller of property and sue the present seller for breach of contract. Will the Court force the seller to provide the wood flooring instead of ordering a refund of my down payment plus damages?

Attorney Answers

3
Richard J. ChertockReal Estate AttorneyMelville, NY ·
Depends on wording if your contract. It is possible. Most contracts state if seller willfully breaches contract buyer remedy is to sue for specific performance. I assume you are represented on this transaction. Have your attorney review the contract and see what it says with regard to sellers default and what your remedy is.
0 upvotes
Tracey L. DanielsReal Estate AttorneyNew York, NY ·
I agree with the attorney above. One other issue to keep in mind and to discuss with your attorney is the process for getting your deposit back. If there is a dispute as to whether or not you're entitled to get the money back, depending on the escrow agreement the deposit will likely be tied up until it's resolved. It's just something to consider when making the decision not to close, particularly if you need the money for a deposit on a different purchase.
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Bradley Ratliff ·
Good advice from the two attorneys above! I would further explore whether a remedy of specific performance is available to you. You should consult with an attorney in your jurisdiction to review the terms of the contract.
0 upvotes

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