Pennsylvania  |  Real Estate Law

Legal Question

Asked on: 9/20/13, 3:08 pm

I had a settlement on a home I own in Philadelphia scheduled today. The buyer could not close because he didn't refinance another property thereby not having the money to settle on mine today. Problem is he didn't check any mortgage contingency on contract. Selected as is, cash purchase,. I feel that this is a breach of contract, and my question is am I legally able to cancel our agreement, move on in another direction (refinance and rent, or sell to another buyer). Question is..what happens to his 5,000.00 deposit money? What about the realestate agent..won't he be agry? Who pays for the title company fees (title was ordered etc). Am I at risk for a law suit? Buyer claims they can settle next week, but I have not signed an addendum nor has my listing agent given me one.

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

70 Answers given in the last few hours.

86611 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search