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    DLP's Avatar
    DLP Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 30, 2006, 07:01 PM
    Breach of Contract
    To whom it may concern,

    I am a president of a non-profit Inc. We sold a house for 119,500.00 and received a 350.. 00 for earnest money... Loan is OK, Buyers are not calling nor returning calls, It is apparent that they may be breaching the contract.

    What should we do,


    Thank you
    Derek Purser

    615-4736446
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Dec 1, 2006, 11:17 AM
    Hello Derek:

    Keep the money and put the house back on the market. Next time, get a bigger earnest money deposit.

    excon
    Cvillecpm's Avatar
    Cvillecpm Posts: 553, Reputation: 28
    Senior Member
    		  
    #3

    Dec 1, 2006, 11:38 AM
    Have the closing attorney or escrow company call them regarding the closing date. If the date to close has PASSED, then you need to CANCEL the SALES/PURCHASE contract FIRST and THEN take their deposit and THEN you can re-market the house.
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