Jaclyn started at LegalMatch in October 2019. Are You a Victim of Fraud By a Seller or Realtor? Can I Sue My Home Seller for Defects Found Post-Closing? Sue As mentioned above, you have the right to sue either for damages or to force the sale. This will help the court determine what type of damages the breaching party should have to pay. What to Do in Case of a Breach of Real Estate Contract - Marc In Florida, buyers breach real estate contracts all of the time and in all sorts of ways. The buyer can then sue for breach of contract and collect compensatory (monetary) damages from the seller, or they might seek restitution for the missing merchandise instead. 2010-08-18T15:48:06-05:00 Also, in such a situation, no damages or remedies will be awarded. Gov. Do Not Sell or Share My Personal Information, failure to disclose a defect (according to your state's statute). If the seller intentionally kept material information secret from the buyer (like mold in the condo walls), then the seller is liable for that bad act even if he or she had a real estate broker representing them in the deal. Specific performance entails a court order to the breaching party to take a particular action. This is usually calculated as the difference between the contracted price and the market value (minus any deposits or other monies the breaching buyer has already given to the seller). In Florida, in order to have a binding contract to purchase real estate, both the buyer and seller must sign a written agreement that includes the material terms of the deal (price, closing date, description of the property, financing, etc.). 233 (1941); Kuharske v. Lake County Citrus Sales, 44 So.2d 641 (Fla. 1949). Also, the parties may be able to find a way to resolve the breach on their own without the intervention of a court. Introducing the all-new LendingTree Win Card. These articles are for informational purposes only and should not be relied upon as legal advice. WebOur Breach of Real Estate Contracts Lawyers serve Fort Lauderdale, Broward County, Miami-Dade & Florida State. %PDF-1.6 % advice, does not constitute a lawyer referral service, and no attorney-client or Liquidated damages are only enforceable if calculating actual damages for the particular breach is difficult and the estimate is reasonable under the circumstances. All reviewers are verified as attorneys through Martindale-Hubbells extensive attorney database. For more information on Martindale-Hubbell Peer Review Ratings, please visit our Ratings Page on Martindale.com and our Frequently Asked Questions. 4th Floor, Coral Gables DoNotPay also creates a script based on persuasive arguments to use in court. However, in certain situations, Law, Products DoNotPay can provide you with a rock-solid legal document to send to the seller. If the seller intentionally conceals important information about the property from the buyer, then he/she may be committing fraud. However, enforcing a real estate contract in court is expensive and time-consuming, so youll need to carefully consider how hard youre willing to fight. However, in most cases, its pretty clear that the deal is not going to close because the buyer is unwilling (i.e. We can help you: We have helped over 300,000 people with their problems. However, there are times when the seller isnt sure of whats happening. kstewart confidential relationship is or should be formed by use of the site. 20222023 Romano Law LLP in California Even then, there will likely be consequences for the seller, as the laws On the other hand, if it is a business contract or the terms of the contract involve something that is of great value like a house, then you should contact a localcontract lawyer for further assistance. Law, Government For example, when a person who is selling their house refuses to hand over the keys and property to the buyer at their closing, then the buyer may sue for specific performance. The two main avenues a seller can use to cancel a contract legally are: Fortunately, it isnt typical for a seller to back out at the last second. Property Law, Personal Injury A good piece of advice if you are involved in a real estate transaction where the seller or realtor has concealed material information or has made materially untrue statements, is to at least speak with an experienced Florida real estate lawyer to learn about your rights. If you believe that you have discovered a material defect that the seller never disclosed to you prior to the sale of the home, there are three potentially responsible parties, each of whom may have some portion of the liability: Once you have identified the potentially responsible parties, you will want to know whether their actionor inactionentitles you to compensation. x\Ys~_1oIy's`.EKWN;V!,R h4=*f>iUvEU~QXv(}n+E5WmUO'SdD4ew5JjWo]]3JU & Consideration is when the parties provide each other with something of value. An experienced Florida real estate lawyer can explain the nuances of your particular situation and help you decide which alternative is in your best interests. This usually involves the buyer being refunded his or her deposit as well as expenses incurred during the failed transaction such as attorney fees, survey fees, title inspection fees and other costs of examination. What sorts of newly discovered defects might make the person who sold you the house legally liable? A common dispute is when a seller wrongfully refuses to transfer title to the buyer or when either the buyer or seller has defaulted on a purchase agreement or other contract in connection to the real estate transaction. Distinguished: An excellent rating for a lawyer with some experience. What Happens When A Seller Defaults on a Real Estate Contract, the real estate broker (and their agent) may be liable for fraud damages. All rights reserved, Co-Founder and Senior Partner at Oppenheim Law. In most real estate contracts, the agreement itself spells out the sellers options if the buyer defaults. The difference between the remedies awarded will dictate what the non-breaching party can expect to receive and what the breaching party will be required to do as punishment. For instance, if the seller fails to disclose to the buyer that the condo had suffered a lot of water damage from a leak and that the condominium has mold, then the buyer likely has a fraud claim. 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