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Updated over 1 year ago,
Buyer Default on Contract Day of Closing.Can I Keep Down Pymt without Going to Court?
On the day of closing, the buyer decided they want to back out of the contract for no substantiated reason. The buyer wants their $50K downpayment back. My attorney is advising that I take $10K out of the $50K down payment then re-list the house. I'm pissed. I feel like I should be able to keep all the downpayment. My attorney says we would probably need to go to court which could take years and a lot of money. I've never sold a house before. Please advise. Should I take the $10K or fight it in court?