Had a sellers agent send over a notice to terminate a sales contract yesterday with the reason being “Personal Reasons”
Doesn’t seem like a reason for cause?
As you can imagine buyers are not happy.
What are the legal costs associated with trying to force them to honor the contract? Could buyers ask for reimbursement of attorney fees if the sellers are found to be in default of the contract?
What other remedies may exist?
Reimbursement of inspection and appraisal are a must.
Maybe a first right of refusal to prevent them from selling it to someone else if the contract was terminated.
Doesn’t seem like a reason for cause?
As you can imagine buyers are not happy.
What are the legal costs associated with trying to force them to honor the contract? Could buyers ask for reimbursement of attorney fees if the sellers are found to be in default of the contract?
What other remedies may exist?
Reimbursement of inspection and appraisal are a must.
Maybe a first right of refusal to prevent them from selling it to someone else if the contract was terminated.
