Re: Financing Contingency Issue

Daniel.Gustafson@xxxxxxxxxxxxx writes:

I am not a lawyer so you might want to get legal advice but I don't
believe they can keep anything except the earnest money.

Actually, in many states, I'm told that IF a seller can prove actual
damages resulting from the buyer's breach of contract, the damage
award is not limited to the earnest money.

But the rub is that it's evidently pretty difficult to demonstrate
damanges in a way that a judge will take seriously.

At least this is what my attorney in IL indicated to me when we were
pondering hypothetical situations on the recent sale of my home and
whether the buyer would try to worm out on mortgage contingency.

--
Todd H.
http://www.toddh.net/
.

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