QUESTION
can an attorney say this is a squash deal just forget and return the down payment to the buyers even though they default the contract?
Asked on Jul 30th, 2013 on Breach of Contract - New York
More details to this question:
on contract it was crossed out where it said financially contingency so it a cash deal. Unfortunately it was not and closing dates were canx 5 times and finally I asked the lawyer this is enough now what do I do? the attorney said now you can cancel the contract. why did he return the down payment back to the buyers just like nothing. and I even quit my job because of the closing date and was way over the 6o days.
1 ANSWER
1 Award
For there to be a breach of the contract there had to be a declaration of "time of the essence". Having a date in the contract is not enough. Secondly, I am not sure how it became a loan contingency if the contract indicated that it was a cash deal unless there was a subsequent agreement made.
Answered on Jul 30th, 2013 at 3:20 PM