how seller can cancel the contract if buyer doesn't close on escrow on close date?
3 Answers from Attorneys
Generally, if the buyer fails to perform on a contract, the other party may have the right to rescind the contract for failure of performance or breach. The purchase and sale agreement indicates what the date of closing ought to be and what "contingencies" much be met before that date. If the buyer has failed to perform, you then may have the right to cancel.
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It depends on whether time was of the essence, and whether terms were provided for cancellation. That depends on the purchase and sale contract which usually are also the escrow instructions.
It really depends on the terms of the Purchase Agreement. You should have the agreement itself reviewed by counsel and explain to your attorney exactly what happened.