Posted by William Bronchick on February 18, 2002 at 23:20:12:
Cannot comment without readin the contract. If the buyer has a certain amt of time, then they are entitled to it. If the buyer has announced his intention to do nothing, then this would be an “anticipatory repudiation,” allowing the seller to cancel the contract. In fact the buyer’s failure to act in good faith to attempt to provide financials and inspect the property could be a reason for the seller to keep the earnest money.
Contract problems - Posted by Steven S.
Posted by Steven S. on February 17, 2002 at 13:54:29:
If someone who places a contract on an FSBO home doesn’t return with a proof of financial capability within a couple weeks and has yet to have issued an ispection on the property, can the owners be able to terminate the contract and proceed with another contract with buyers that do have the proper financing? The contract would be officially cancelled in only a few days, so would it matter if they canceled now?