Quote:
Originally Posted by Sliver
Hey so I have a deal on a condo I own closing today. Like, all conditions (financing and condo docs) lifted and the deal is done by 8pm (or something). Possession for the new owner would be in about a month.
If the guy squelches unrelated to financing or the condo docs (the docs will be perfect, so it could only be financing), do I get to keep his deposit? My realtor gave me a vibe like the guy might crater the deal because he's looking at some other places all of a sudden, which would mean his financing is fine. Plus I googled the #### out of him and would be 1000% skeptical of him having any financing issues whatsoever.
If he kills the deal - and in the meantime interest rates have gone up further and the market has gotten worse, thus making people less interested in buying in a recreation area - I kind of feel entitled to the deposit. Like, that's what it's for, right? To compensate me for him fataing up the sale of my property? Plus I'll have longer carrying costs of owning this one I'm selling, plus the new one I bought.
Hopefully it all goes through and closes fine tonight, but if not, any thoughts?
|
If they back out after waiving all conditions and the sale is firm you are entitled to losses incurred but that will between yourself and a lawyer to figure out and if you want to start litigation.