Whenever property is sold, there is the risk that one party will fail to abide by its contractual obligations. When that happens, the other party to the contract may have a breach of contract claim.
For example, a seller may sign a contract for the sale of a home and then shortly thereafter receive a significantly better offer. The seller may be tempted to get out of the first contract in order to then accept the better offer. In that case, the seller may be liable for breach of contract, including a court order requiring specific performance. Alternatively, a buyer may be overwhelmed with “buyer’s remorse” days before closing and may refuse to complete the purchase (although this typically leads only to an earnest money dispute).
Whether you are a buyer or a seller, we can assist you in determining whether and how you can achieve your desired result when the other party refuses to abide by its contractual obligations. Contact us to discuss your particular situation.
