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Updated over 6 years ago on . Most recent reply

Jake Walroth's profile image
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Jake Walroth
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  • from Cincinnati, OH
  • Member since Dec 14, 2016
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Jake Walroth's profile image
Jake Walroth's profile image
Jake Walroth
  • Investor
  • from Cincinnati, OH
  • Member since Dec 14, 2016
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Jake Walroth
  • Investor
  • Cincinnati, OH
157
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Tax, SDIRAs & Cost Segregation

Can you get sewed for damages for not closing?

Jake Walroth
  • Investor
  • Cincinnati, OH
Posted

So I signed a purchase agreeement for 189k.(I'm the buyer) This agreement didn't have any contingencies- Appraisal or Financing. The property appraised for 164k. The seller's lawyer said, they'll come after me for damages if I can't buy the property/they can't sell the property for 189k. Am I in trouble?

Jake 

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Wayne Brooks's profile image
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Wayne Brooks
  • #1 Foreclosures Contributor
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  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks's profile image
Wayne Brooks's profile image
Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Depends on:

1) your contract

AND

2) State Law

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