If the buyer of my home had it inspected and found items in need of repair which I had fixed but they still want out, can I keep the deposit if I was not timely notified of the cancellation?
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If the buyer of my home had it inspected and found items in need of repair which I had fixed but they still want out, can I keep the deposit if I was not timely notified of the cancellation?
The buyer of my manufactured home had an inspection within the 10 day inspection period; they found concerns and wanted them fixed. I hired contractor to repair, prior to fixing (but within the 10 days) buyer said he no longer wanted home. He verbally told realtor but did not give me or realtor written or fax notice as stated in contract. I have not yet signed release of deposit. Am I entitled to keep all or part of depost? It is clearly stated that for buyer to cancel due to inspection he must notifiy seller in writing. Manufactured home.
Asked on July 3, 2015 under Real Estate Law, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
If the buyer has not fulfilled the requirement for cancellation under the contract and you repaired the issues as requested and in fulfillment of your duties under the contract, then you make a very good argument for keeping the downpayment or bringing an action for specific performance. I would consult an attorney who can view the contract in person on a flat rate basis to be sure. Good luck.
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