North Carolina – Buyer did not go through with purchase
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North Carolina – Buyer did not go through with purchase
We signed an Offer to Purchase and Contract with a cash buyer on 09/19. This was as
Asked on October 29, 2019 under Real Estate Law, North Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
It would be impossible to sue for the mortgage payments or other "carrying costs" unless you can show that you rejected another firm offer with similar closing date to take this one, since otherwise, you can't prove that you only incurred this loss (only had these payments) due to the buyer's breach. If you did not have another fim, similar closing offer, then you would have had these mortgage payments any way and so did suffer a loss due to the breach.
There is no recovery for your lost time; the law does not provide compensation for it.
It may be that all you can do is retain the deposit. In the future, get a large enough deposit as to make that worthwhile.
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