What can I get from a seller that backs out from a sale?
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What can I get from a seller that backs out from a sale?
We were two weeks from closing and working
out the last details of the sale when the seller
got offended by my offer and backed out.
While this is annoying, Im fine with it because
thats her life. Shes returning the earnest
money but I feel like I shouldnt be out the
inspection and appraisal costs. Before I sign a
mutual release, is there a way to get those two
amounts back?
Asked on July 8, 2018 under Real Estate Law, Indiana
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
You could sue her for the money: when party A breaches or violates a contract, party B can generally recover any losses or costs they incurred due to the breach. In this case, that includes inspecton and appraisal costs you incurred (and legal fees, if you had a lawyer involved). So if she will not pay them voluntarily, you could recover those amounts in a lawsuit (e.g. in small claims court, as your own attorney, to minimize the cost of suing).
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