QUESTION
I may need to cancel a real estate sale contract
Asked on Feb 25th, 2022 on Contracts - Pennsylvania
More details to this question:
Our real estate lawyer is not representing us correctly as the seller. He is sharing the information I provide him with the Title Co. He is just doing what they ask instead of standing for us. I am now looking to replace him and I want to know what are the consequences if I need to cancel the sale contract
1 ANSWER
Bankruptcy Attorney serving Collegeville, PA
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Nahrgang & Associates, P.C.
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Most Agreements of Sale provide that the remedy for breach is the loss of deposit. In the case of the buyer, that can be significant. In the case of the seller, less so. The main concern involves your realtor who may insist on being paid the commission on a sale that you canceled.
I trust this answers your questions and if you live in the Delaware Valley, feel free to call or email on a free initial basis.
Best Regards,
Matthew R. Nahrgang, Esquire
35 Evansburg Road, Ste 400
Collegeville, PA 19426
(610) 489-3041 o
(610) 489-3042 fax
nahrganglaw.com
Answered on Mar 03rd, 2022 at 12:58 PM