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Updated over 5 years ago,

User Stats

34
Posts
4
Votes
Bob Renthammer
  • Rental Property Investor
  • Omaha, NE
4
Votes |
34
Posts

Buyer holding on to the purchase agreement

Bob Renthammer
  • Rental Property Investor
  • Omaha, NE
Posted

Situation: a buyer and seller signed a simple purchase agreement. After a couple weeks pass, the seller asks the title company if they've received anything and it turns out that the buyer neither turned in the purchase agreement nor turned in the earnest money deposit.


After repeatedly asking the buyer being told they'll turn those items in the next day, and repeatedly checking with the title company and finding this has not happened, what options does the seller have? Obviously the seller can't force the buyer to turn in the purchase agreement or the EMD. Can the seller find another buyer and, if so, what happens if the original buyer shows up with the purchase agreement?

I've googled around and haven't found much on this topic. Surely the purchase agreement has an expiration date at some point even though it's not specific in the contract itself.

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