Posted by River City on June 09, 2005 at 06:39:57:
Why are you wanting to back out?
legal recourse on expired contract? - Posted by roger gibbs
Posted by roger gibbs on June 08, 2005 at 12:46:56:
My land purchase contract is expiring today and I am set to close tommorow. The realtor mentioned an extension but never sent one over. If i back out tommorow(day after the expiration dat), can the seller go after me?
Maybe, but don’t sweat it - Posted by John Merchant
Posted by John Merchant on June 09, 2005 at 08:13:16:
Sure, anybody can sue anybody, but rarely does a seller succeed in suing and forcing a buyer to buy.
Primarily the costs involved in hiring the lawyer, getting his/her fee paid, and getting ready really exceeds the practicality of such a move.
It’s far cheaper to just forget defaulting buyer #1 and go find good buyer #2.