Legal Question in Real Estate Law in California

how seller can cancel the contract if buyer doesn't close on escrow on close date?

Asked on 5/26/13, 9:57 pm

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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Answered on 5/26/13, 11:31 pm
Anthony Roach Law Office of Anthony A. Roach

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.

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Answered on 5/28/13, 9:41 am
William Christian Rodi Pollock

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.

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Answered on 5/28/13, 10:41 am

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