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Buyer wants to buy now and close in Aug. What happens if buyer does not fulfill the terms of contract and backs out before closing? Is the seller out of luck? Would there be monies due seller? Would seller have to sue? Apt. would be off the market for 6 months!
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you should requred a deposit to be forfeited if the deal does not close due to the fault of the buyer.
Answered on Feb 15th, 2016 at 1:05 PM