breach of contract
Breach Of Contract During Real Estate Deal
Breach of contract during a real estate deal often results in the loss of earnest money. Knowing what is in your contract will tell you what rights you have as a home buyer and what the builder’s rights are. The contract will provide language regarding the termination of the contract and what will happen to earnest money.
Breach Of Construction Contract
A buyer says he’s having trouble getting earnest money back from his builder after deciding not to buy a home. The buyer can sue the builder for breaching the construction contract.
Breach Of Contract Due To Death
A woman and her husband had a real estate contract at the time of his death. Ilyce explains the breach of contract due to death clause and how it applies to this unfortunate situation. Unless the contract states that in case of the death of either the seller or one of the buyers the contract could or would be terminated, the contract will remain valid.
New Construction Includes Landscaping
When you buy new construction you may expect the landscaping, including the grass, to be in order. Is landscaping complete when the yard has rocks and holes in it which prevent the grass from being mowed? It depends on the agreement that the home buyer comes to with the builder prior to moving in. If the builder committed a breach of contract by neglecting some landscaping the home buyer may be able to sue.
Canceling Condo Contract
Builders are facing cancellation of new construction contracts all over the country. Unless it is specified in the contract, there is no obligation on the part of the builder to return your deposit if you cancel the contract. As the buyer, you are obligated to fulfill the term of your real estate contract.
Breaking A Real Estate Contract
A seller reader signed a contract to sell his land but would now like to back out of the deal. Once you sign a contract, you are obligated to its terms, even if you don’t understand it. As a buyer or a seller, you have a duty to understand the contracts you sign.
Breach Of Contract Due To Pool Water Damage
What can you do when your earnest money gets held up due to a damaged pool? It’s up to the seller to disclose water damage and if he doesn’t the buyer may have to hire a real estate attorney to get his earnest money back from the seller. Learn about breach of contract and seller disclosure in this situation.
Poor Seller Disclosure May Result In Breach Of Contract
What happens if you buy a home and the contract states one thing but the house does not match that requirement? Under seller disclosure is the seller liable for fixing the discrepancy? In this case, a home buyer believes that his new home lacks insulation which was described in the contract. Before suing the seller, a developer, the home buyer should make sure that his suspicions of lack of insulation are correct by hiring a contractor.
Title Insurance Company Can Discover Deed Problems
Is a general or special warranty deed better for selling property? When selling a residential property, the type of warranty deed you use, or title, isn’t so important. A special warranty deed is usually used for commercial real estate sales. During the home sale process, a title company will run a title search and discover any problems with the deed or title. Usually a general warranty deed is used when selling a residential property.
Real Estate Contract Determines Sale Status
Is a home sale still valid when a home burns down? It depends on the real estate contract. The real estate contract may discuss what happens when the home is destroyed prior to the completion of the home sale. The real estate contract may allow the home buyers to receive a new home built using insurance money or it may allow the new owners to receive the insurance money directly. Consulting a real estate attorney to look at the real estate contract will help sort out this home sale.
