QUESTION
What if the buyer has failed to satisfy a contingency and is in breach and one selling party wants to terminate but the other selling party doesn’t?
Asked on May 16th, 2018 on Real Estate - Pennsylvania
More details to this question:
Going to divorce process but haven’t yet filed. We have sale agreement but a contingency wasn’t satisfied. What occurs if one selling party wants to terminate but the other selling party doesn’t? Where does this leave the agreement of sale?
1 ANSWER
Business Law Attorney serving Pittsburgh, PA
at
Fiffik Law Group, P.C.
Update Your Profile
Well that's a tough spot. How about this alternative -- you get the buyer to agree to allow you to market the property. If you get an offer that you want to accept, the existing buyer gets 48 hours to remove contingencies and close w/in a reasonable time. If they fail to exercise this option, you get to void the deal and move forward wtih the new buyer.
Answered on May 22nd, 2018 at 8:44 AM