Sentences with phrase «buyer backs out of the deal»

But if the buyer backs out of the deal without a good reason, the seller could keep the earnest money.

The buyers sued for the return of their $ 17,750 deposit, arguing that the sellers weren't harmed by the buyers backing out of the deal.

The assignment of contract does not fully protect you in the event your end buyer backs out of the deal past the option period.

Not exact matches

Essentially, these clauses give home buyers a way to back out of the deal if they are unable to secure a mortgage loan to complete the purchase.

For instance, if there is a home inspection contingency written into the sales contract, it means the buyer has a right to back out of the deal if the inspector finds serious problems with the house.

Home buyers usually have the opportunity to back out of the deal, if they are unwilling to accept any issues noted in the report.

In the worst case, people with buyer's remorse will use results of a home inspection to back out of the deal without penalty.

So the home inspection contingency gives the buyers the right to order an inspection, and to back out of the deal if they're unhappy with the results.

Home buyers usually have the opportunity to back out of the deal, if they are unwilling to accept any issues noted in the report.

«I've had calls in the last 24 hours from agents representing foreign buyers who are backing out of deals because of this new tax,» says Dinani.

It seemed to us that the buyers with the lower deposit amount were trying to hedge their bet, because they felt they might back out of the deal.

While buyers can always back out of a deal, doing so without good reason may forfeit their earnest money (the cash put down to secure the offer, typically around 1 % -2 % of the home's price).

That's the deposit that you, dear home buyer, put down once you agree to purchase a place (typically 1 % of the home's price) and that you stand to lose if you back out of the deal for no good reason.

«Ultimately, a condition means there's a chance the buyer will back out of the deal.

As a home buyer, you would be wise to include a contingency within your purchase agreement that allows you to back out of the deal if the home appraises below the sale price.

As specified in legal statutes regarding real estate, both the home seller and the home buyer have a three - day window, while the Offer to Purchase (PDF) is being reviewed by legal counsel, to back out of the deal.

Low mortgage rates should bring out a stampede of home buyers looking for a deal with housing prices so much more affordable than a few years back.

Most property companies are now enthusiastically back in acquisition mode — in fact, recent news & developments suggests the makings of a real land grab... [You know prices look set to rise when multiple buyers are bulking up, jumping into portfolio auctions, and generally appear terrified they'll miss out on sealing a deal or two!]

You can add contingencies to the contract that will allow you to back out of the deal in the event you are unable to find a end buyer.

Buyers are backing out of deals — they bought but could not sell (at their price) their own home.

Here, the buyer risks being liable for breach of contract damages in a civil lawsuit (again, this depends on the contract — some contracts only allow a seller to keep the deposit in the event of a default by the buyer) unless he or she can prove a legal basis for backing out of the deal.

(Note: - once title to the property transfers the buyer can not back out of the deal, with or without a Residential Property Disclosure.)

Without contingencies, a buyer could forfeit his deposit under certain circumstances if he backs out of a deal.

That's the deposit that you, dear home buyer, put down once you agree to purchase a place (typically 1 % of the home's price) and that you stand to lose if you back out of the deal for no good reason.

Mike Aronson, broker - associate of Coldwell Banker Heritage House in Durango, Colo., says some buyers panic and back out of deals.

It is true that in many residential real estate transactions, it is the buyer that has second thoughts about buying that home or condo and tries to find a way to back out of the deal.

For instance, if there is a home inspection contingency written into the sales contract, it means the buyer has a right to back out of the deal if the inspector finds serious problems with the house.

As a buyer, you could forfeit your deposit under certain circumstances, such as backing out of the deal for a reason not stipulated in the contract.