Legal Question in Real Estate Law in Virginia

We have a ratified contract to purchase a shortsale property and have third party approvel. We have paid for a va appraisel and a home inspection. Our escrow check has been cashed. The only thing remaining is to make necessary repairs for va reappraisel/reinspection.(..around $3000 ) which we have offered to pay for, than close by end of may. The seller now wants to cancel the contract....He states that there are tax issues he was unaware of. Can he cancel this contract.


Asked on 4/25/10, 10:07 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

If you mean without potential penalty, probably not, but

an attorney familair with such contracts and issues should

review the instrument for greater certainty.

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Answered on 4/30/10, 10:48 am


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