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Now while the parties are in contract, the property can still be shown by the real estate broker and the real estate agent, and there may be backup offers made in case the deal between the original buyer, and the seller falls through. One quick note on what happens when the buyer backs out, or when the seller refuses to close, the most important thing to remember for this whole discussion is that we start out with what the contract of sale says, which is the language of the contract and is super important. Give us a call right now!
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Our team will help you with any Real estate Attorney New York needs and Typically when the buyer backs out the deposit is forfeited. The seller back, so, tries to back out. The buyer wants to move forward with the deal and get the property, New York Court, in force that contracts in what is called a specific performance meeting they generally with horse sellers to sell. They’re always exceptions, so keep that in mind. There are so many fascinating elements of New York City real estate, that I have written a short, introductory book to get over them. And best of all, as that book is available right now.
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