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Real Estate Questions and Answers

Real Estate Questions and Answers

Buyer Backed Out At Closing

July 18, 2019 by Rick Landuyt Leave a Comment

Q: My in-laws are selling a shore home and had a contract. Monday would have been the closing and the buyer has backed out. Who is responsible for any fees incurred during the transactions to this point?

A: Your answer is contained in the purchase agreement which you all signed. Lack of such language would mean that you would have to seek a remedy outside the contract through court. Check over the contract (under default) & then, if necessary, with a Real Estate Attorney.

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