Posted by Bill Jacobsen on December 15, 2006 at 20:11:33:
You say you have a signed contract by both parties. I assume you mean the buyer and seller. Are you the realtor or what is your part in this?
I have seen this situation go several different ways. I had quickly written up a sales agreement after seeing a house I wanted. It was signed by the seller. He later wanted to back out. I contacted a attorney who didn’t like my sales agreement so advised me to let the seller back out.
I have seen a judge require performance of the contract and I have also seen cases where damages were awarded.
I know this isn’t the kind of answer that you wanted but I am just telling you my experience and what I have seen.
I am sure your attorney will be able to help you.
Bill