What to do if we signed an agreement of sale to be on or before the 31st of the nonth but it is now the 30th and we have heard nothing from our buyer’s agent?

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What to do if we signed an agreement of sale to be on or before the 31st of the nonth but it is now the 30th and we have heard nothing from our buyer’s agent?

Asked on May 30, 2012 under Real Estate Law, Pennsylvania

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If this a contract for sale of real estate, with a closing date by the 31st, if the buyer breaches the agreement by not closing the sale by or before the 31st, you would have the option of either treating the agreement as breached and keeping his deposit, or else suing to enforce the agreement (suing for force him to go through with the sale, or to have to pay you the profit you would have realized on the sale).


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