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Updated over 8 years ago,
PHILLY Help!! Breach of contract and closing issue!
Hello everyone, I am a real estate investor from New York that made my way down to the outskirts of Philly PA. I have been buying and selling the past two years. I introduced a friend to the Philly market and he immediately went all in as well.
I know NY laws with breach of contracts and closing, etc, but not to sure about this situation I'll explain now.
Here's my question:
My buddy bought a rehab and it was put on the market 2 months ago. Found a buyer and seller and buyer signed contracts. The buyers have been very difficult in their demands with the inspection and keep moving the closing back. They want the most ridiculous things fixed in the house on sellers dollar. Anyways, my buddy decides to take the house off the market after signing all contracts. I don't believe the contract states he has any contingencies to refuse or break the sale.
Can the sellers in PA sue for breach of contract. Any advice would be great! Thanks.