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They're on very shaky ground. You may have to pursue them civilly in small claims court but if both parties read and signed the contract, they should be bound to the quoted price. At the very least, a judge should find there was no meeting of the minds on the agreement and void the contract.
What else can I help you with?
Which statement about contracts is correct?
The correct statement about contract is that a contract is an agreement between a buyer and a seller. A contract can be a written or oral agreement.
When agreed upon in advance what is the seller's compensation if the buyer does not keep his agreement to purchase?
If the buyer does not fulfill their agreement to purchase, the seller's compensation, as agreed upon in advance, typically comes in the form of a forfeited deposit or earnest money. This amount is usually specified in the purchase contract and serves as compensation for the seller's time and opportunity cost. Additionally, the seller may also seek damages for any losses incurred due to the breach, depending on the terms outlined in the agreement.
Can a seller change their mind in real estate transaction?
The seller cannot change their mind once they have signed a contract unless there is some language in the contract that will allow them to back out of the sale. You need to review the terms of your purchase and sale agreement.
What are land grant contracts?
A land grant contract is an agreement between a buyer and seller to purchase real estate. The contract will specify terms and conditions and sometimes involve owner financing.
What is the seller's compensations if buyer does not keep his agreement to purchase real estate?
There are remedies available to the Seller if a buyer does not purchase the real estate as agreed in a written, fully executed contract. These are only available to the seller if the buyer has signed the contract and there are no limiting conditions such as a financial clause, inspection clause, due diligence period, etc. If the buyer breaches the contract the seller may sue to keep the buyer's deposit, sue for damages caused by the buyer breaching the contract, and may also sue for "specific performance" which would force the buyer to purchase and close on the real estate.
Performance of a sales contract is controlled by the agreement between buyer and seller?
true
How would one describe a land contract?
A land contract is a contract between seller and buyer of property. A contract is only made when an agreement between seller and buyer has been reached. The seller becomes the land owner only when the full payment has been made.
What is the contract to purchase bonds called?
The contract to purchase bonds is typically called a bond purchase agreement. It outlines the terms and conditions of the bond sale, including the price, quantity, and maturity date of the bonds being purchased.
How do you break a new car contract?
You can't. If you signed then you have agreed to purchase the vehicle. Your only recourse is to talk to the seller and see if they will let you out of the deal. Offer to pay them to tear up the agreement.
What is the sellars compensation if they buyer doesnt keep agreement to purchase?
That would depend on the laws of the country in which you live and perhaps the wording of any contract between the seller and the buyer signed by both.
Does the seller receive the down payment?
Yes, the seller typically receives the down payment from the buyer as part of the purchase agreement.
What is a seller pursuant?
Those words have been taken from a contract or agreement out of context. Examples of their use in contract language are as follows: The Buyer will pay one-half of the closing costs of the Seller pursuant to the agreement signed by the parties on 9/01/2008. The bank has no claims against Seller pursuant to the Note or otherwise.
