Breach of the earnest money contract by the seller
The deposit contract is a necessary document for reserving a home. This agreement speaks of the obligation of both parties to sign the sale in a previously established future. Breach of the earnest money contract can occur by both parties, but in this article we will focus on breach of the earnest money contract by the seller . How much is my house worth? There may be some situations in which we can say that there has been a breach of the earnest money contract .
Requirements to withdraw from the contract for reasons of force majeure
These are the approved requirements to end the contractual responsibility of a sale: The event is unforeseeable, inevitable and unexpected. The impossibility of fulfilling the deposit contract showing the inability objectively. All possible options for both parties If there is a breach of the earnest money contract by the seller or the buyer, you must Aruba Email List know all the options that exist to deal with the situation, whether you are the affected party or the defaulting party. The seller is the injured party The seller remains the owner of the property, having full availability of it. Confirmatory deposit contract : The seller can claim compensation for damages caused, maintaining the reservation.
The buyer is the injured party
When the affected party is the purchasing party and the breach of the deposit contract is by the seller, depending on the filming contract, the following will happen: Penitential deposit contract : The buyer can claim the corresponding penalty from the seller, and as in the previous case, this communication must be made through a reliable means. Confirmatory Malaysia Email List deposit contract : The buyer can claim the return as deposit plus compensation for damages. Communication must be made by a reliable means such as burofax.