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Buyer Refuses to Close Resulting in $610,000 Loss
A Buyer tries to back out of a sale claiming that the Seller won’t agree to help with a severance application. He sues to get his $150,000 deposit back. Instead, the Court finds him liable for over $600,000 in damages for refusing to close.
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Court Rejects Buyer’s Excuse for Refusing to Close
A Buyer can’t get financing and asks for a $130,000 price reduction. When that fails he refuses to close saying the lot size was smaller than advertised.
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Buyer’s Remorse – Backing Out of a Deal the Next Day
A Buyer tried to back out of an Agreement of Purchase and Sale the day after she signed it. The Seller resold the property for $140,000 less and sued for the Buyer for damages.
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