answersLogoWhite

0


Best Answer

In the US, depending on the circumstances, the seller may be entitled to keep the buyers' deposit if the buyers agree or they take the buyers to court and win their case. (The listing company is not allowed to disburse the deposit unilaterally). Usually, sellers are better off just putting the house back on the market and dealing with the inconvenience.

If the buyer defaults and it causes major complications for the seller in a market that is depressed, the seller can also sue the buyer for Specific Performance. This would have the court step in and force the buyer to complete the transaction.

User Avatar

Wiki User

11y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What recourse does a seller have when a buyer backs out of a signed real estate sale?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Economics

Can one executor do things behind the others backs?

No. An executor cannot do anything related to the estate "behind anyone's back". An executor is a court appointed fiduciary who is required by that office to act in good faith. He/she cannot take advantage of that position or cause anyone to unfairly profit from financial transactions from the estate. He/she must follow the will to the letter and make distribution accordingly. Any actions taken by the exeutor should be reflected in the estate file and should be reported in the inventory of the estate and subsequent final account. When co-executors are appointed both should join in every transaction unless otherwise specified in the appointment. If the executor violates the powers bestowed by the court you can petition to have them removed and charged for any damages to the estate caused by their misbehavior. Once the estate has been filed for probate the file becomes a public record that can be reviewed by you at any time. If you think the executor has been dishonest you should report your suspicions to the attorney who is handling the estate immediately. If your complaint is not handled promptly then complain to the court.


What backs US currency?

war against terror reduced the value of ammerican dollar


What backs up the us dollar?

i think it's either faith, labor, or trust, but don't depend on that, i might b wrong


What is written on the back of a deposit slip?

On the backs of most deposite slips, there is space for more checks to be added. The total should then be entered on the front of the deposite slip.


What backs up US currency today?

The US Currency is backed by the United States Government they are the ones who give it value. Without the US Gov. we would still barter gold, silver, and cigarettes.

Related questions

How can you avoid possible fraud and buy from China safely?

There is a lot of tips , one of them to check out the seller feed backs , the seller have to get a lot of positive or even 100% feed backs in many operations so that you can trust him , there is other tools how to check the seller web page old and the whois tools etc... Any question you can freely ask , this is my web page : Perfumes Mym Chiloe perfumeschiloe.tk


If a person pays an advance for a car and then backs out of the deal does the seller keep the advance?

if some one pays there mortgage in advance it means there mortgagewas payed before it is supposed to be payed.Therefore the opposite of advance has to be delayed.


What position did Brewers reliever Greg Aquino originally signed with the Arizona Diamondbacks to play?

In 1995, the Diamondbacks signed the 16 year-old infielder, however Aquino never played anything pitcher during the 2004-2006 seasons he was on the D-Backs.


What happens if the bank backs out of the approval after the contract has been signed?

You need to read the small print in the contract. I imagine it will cover this eventuality - and the bank will be acting within the terms of their part of the finance agreement. You will most likely have signed an agreement whcih was "subject to approval".


How does surveying apply to real estate?

People want to find the boundaries of there property, to settle encroachment issues. Surveyors sub-divide proporty., find building set-backs, ect.


What if you sent full payment they chashed check and still auctioned auto and now thay have full payment lied about never receiving it and no auto?

Obtain a copy of the check (front and back) from your bank. It will show who cashed it and the date of payment. If it backs up your version of events, then there is recourse.


Do the bleacher seats in Wrigley Field have backs?

No, the bleacher seats do not have backs. Only the seats in the grandstand have backs. Bleacher seating by its very definition means no backs.


Can you return a used car after purchase in Texas?

If you have purchased your car from a dealer, among the paper work you have signed there is an AS-IS/ WARRANTY form. Most used cars are sold as is and the selling party has no responsibility after the sale. Exceptions: If deception was involved with things like: mileage (roll backs, true miles unknown) Title (Salvage title, flood car, etc.) than you can go to court and the seller will be responsible for damages. If however the car is sold with warranty, than the seller will be responsible for the warranted parts per the agreement you have signed. He is NOT obligated to accept a return, just for fixing the part. In all other situations (mechanical problems, undisclosed issues) it is the buyers responsibility to do due diligence before buying the car. The deal is done once you have signed the papers and driven the car off the lot. NOTE: LEMON LAW applies to NEW CAR purchases only and does not apply to used cars. There is no Cooling Off Law when it comes to buying a car.


What number is a left back?

Full backs (left backs and right backs) usually wear 2 or 3.


What is a prepositional phrase for camels are animals that have humps on their backs?

on their backs


When was Off our backs created?

Off our backs was created in 1970.


What is the job left defense in soccer?

Left defence is not not a position in soccer. There are left full backs, left backs, left wing backs, left centre backs. And their job is to defend lol though some teams like their left/right backs (and wing backs) to run down the wings and get crosses in to the strikers so wing backs have to be fast ideally for that role