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If you are the buyer you could lose your deposit money. If you are the seller, the buyer could sue you for suit of specific performance. Either way, defaulting is something you want to avoid!

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17y ago

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Related Questions

What does the real estate standard contract default rate mean?

The real estate default rate is the rate of borrowers that fail to remain current on their loans. When a homeowner is in default, their house may be in danger of being foreclosed on.


Who excutes a Texas real estate contract?

A real estate contract may be executed by the buyer and seller; trustee; attorney; builder/contractor. Any party to a real estate contract may execute a real estate contract.


What is the purpose of good faith money in a real estate contract?

Good faith money in a real estate contract serves as a deposit to show the buyer's serious intent to purchase the property. It demonstrates commitment and helps ensure that the buyer will follow through with the transaction.


What would be a real estate example of discharge from contract by agreement?

If both parties agree that they do not want to pursue the contract for the purchase and sale of real estate they can mutually agree to void the contract.


Is a real estate contract binding if no deposit is made?

Yes, a real estate contract can still be binding even if no deposit is made, as long as both parties have agreed to the terms and conditions outlined in the contract.


Is a Florida real estate contract null and void if the seller dies?

Generally, if an offer was accepted and signed the decedent's real estate is subject to the contract and the estate representative can complete the sale once they have been appointed.


Will a real estate contract be vaild if the owner dies before closing in Georgia?

The contract will be valid. Generally, the death of the seller will delay the closing until a probate procedure is filed and the court allows the sale of the real estate by the estate representative.The contract will be valid. Generally, the death of the seller will delay the closing until a probate procedure is filed and the court allows the sale of the real estate by the estate representative.The contract will be valid. Generally, the death of the seller will delay the closing until a probate procedure is filed and the court allows the sale of the real estate by the estate representative.The contract will be valid. Generally, the death of the seller will delay the closing until a probate procedure is filed and the court allows the sale of the real estate by the estate representative.


When is a contract for real estate considered executed?

Upon both the buyer and the seller signing the contract.


Where can i find a Real-estate contract termination and mutual release form?

Where can I find a termination of real estate and earnest money form


Are you under contract in real estate with no document?

If the parties haven't executed a contract signed by both parties then you are not "under contract".


Is there are rescission period for a real estate rental contract in California?

Yes


When is a real estate contract valid?

When it has been signed by the buyer and seller.

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