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Second, it would be in the non-breaching partys best interest to give the breaching party a chance to resolve their mistake. If the seller fails to disclose information about the house but you havent yet signed on the dotted line, a potential buyer may be able to cancel the home sale purchase Seller Breach of Contract in Real EstateBest Ways To Handle the Situation. Does the Seller have a Legal Duty To Share Material Information with the Buyer? If the amount in dispute is simply too much to walk away from, however, then litigation might be the best option. If the sellers situation aligns with a contingency, they are free to walk away. The contract, for instance, outlines what happens in the event of default by either the seller or the buyer (this is a term that can and should be negotiated between the Also, the parties may be able to find a way to resolve the breach on their own without the intervention of a court. 3 Types of Foreclosure DefensesIn Florida. The seller or the seller's agent failed to disclose the defect. I need to legally get us out of our contract, we close in 6 days and the seller is threatening to sue us because his brother is a lawyer. Breach of Contract Lawsuit: Suing for Breach of Contract When a seller is sued for not paying a real estate broker their otherwise rightful commission, there are generally three defenses available for the seller to use. These are the most common types of breaches cited as the basis of a breach of contract action. See, Clements v. Leonard, 70 So. Many sellers may not realize that keeping their mouths shut can end up costing them a lot of money in damages and attorneys fees. When a buyer breaches a real estate contract, a seller must decide whether to close the transaction, seek specific performance of the agreement or seek monetary damages for the breach. Please contact us online or by phone at 954-384-6114 to schedule a consultation. Login. See, Postregna v. Tanner, 903 So. Copyright 2023 AboutFloridaLaw.com. Ted Shaffrey/Associated Press. Can a seller legally cancel a real estate contract? See, Rosenthal v. Largo Land Co., 146 Fla. 81, 200 So. While in law school, her law journal note was selected for first-round publishing, and can be found on various legal research databases.
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suing seller for breach of contract real estate florida