Profile picture for user8938260

If I am under contract to sell my home to the buyer and in the contract under Special Provisions the

and the buyer writes in within 7 days and signs it and twenty three days later says she was approved for loan but decided not to buy the home. The realtor contacts finance company and learns she is lying that she was denied for bad credit. Is the buyer in breach of contract.
  • April 12 2014 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (4)

The buyer should have never been allowed to see the house without full blown pre-approval where the lenders actually determine the credit worthiness of the buyer.   They don't get in the door of any of my listings with out a  signed letter from a lender.  
  • April 12 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

If she was denied financing then generally she is not in breach of contract.  Most purchase agreements state that the offer is contingent upon buyer obtaining financing unless the buyer is paying cash.  
Your Realtor should be able to advise properly. If in doubt consult with a Real Estate Attorney.
 
  • April 12 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for user8938260
Thanks.
  • April 12 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The buyer could be in breach of contract, but your Realtor should be able to guide you.  If not, contact a real estate attorney and have them review the contract.  Each state is a little different on the laws governing real estae contracts and what constitutes a breach.  Good luck!
  • April 12 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.