My friend put his condo up for sale with a real estate company and the agent did not have him sign a contract, an offer was excepted and buyer's were to be all cash deal. 11 day's into escrow ,buyer's cancelled and he found out that no deposit was made for this transaction. they did ask for repairs to be made and seller made them. Is there any recourse?
Asked on 10/17/11, 11:59 am
1 Answer from Attorneys
Anthony Roach
Law Office of Anthony A. Roach
Normally when a buyer breaches, the seller can sue, and look to the deposit for damages. In this particular case, the issue is what are the damages the buyer has? Damages are normally the difference between the amount this buyer would have paid, and the sale when the seller covers and sells to someone else at a lower price.
Answered on 10/17/11, 12:47 pm
