Virginia  |  Real Estate Law

Legal Question

Asked on: 1/31/03, 5:40 pm

Can seller cancel contract?

We signed a contract with a seller on October 1, 2002 for closing on November 15, 2002. Unfortunately we got the underwriter from heck. She has held up the loan for 2 1/2 months longer, and until the know the seller has agreed to wait. Last week 1/21/03 he decided that he could wait no longer, and we had to close by the following Friday 1/31/03. At this point we got a committment letter from the loan company faxed to us and the sellers lawyer. When the loan officer called on 1/31 to tell him we are ready to go. He states that he has another buyer, and will not close with us. Mind you we have not received anything in writing about cancelling this contract. Can we force him to close since he waited this long already?

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

Get answers from the top Attorneys
Ask Question

125 Answers given in the last few hours.

8663 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search