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Updated almost 7 years ago,

User Stats

122
Posts
33
Votes
Fahima Hilal
  • Real Estate Agent
  • rutherford, NJ
33
Votes |
122
Posts

Time of essence when seller doesnt perform

Fahima Hilal
  • Real Estate Agent
  • rutherford, NJ
Posted

We went into contract on a house in October  and slated to close in December. Its February now and seller still hasnt performed. We have asked our lawyer to send him a TOE letter, and want to close end of this month. If the seller still doesnt close, what is  my legal recourse? What amount can I claim from the seller? I have put down 20K in deposit , spent for inspections, attorney,title , overlooked many other deals while this was under contract. The property is a 3-family and purchase price is 365K

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