North Carolina – Buyer did not go through with purchase

UPDATED: Oct 2, 2022

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North Carolina – Buyer did not go through with purchase

We signed an Offer to Purchase and Contract with a cash buyer on 09/19. This was as

Asked on October 29, 2019 under Real Estate Law, North Carolina


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

It would be impossible to sue for the mortgage payments or other "carrying costs" unless you can show that you rejected another firm offer with similar closing date to take this one, since otherwise, you can't prove that you only incurred this loss (only had these payments) due to the buyer's breach. If you did not have another fim, similar closing offer, then you would have had these mortgage payments any way and so did suffer a loss due to the breach.
There is no recovery for your lost time; the law does not provide compensation for it.
It may be that all you can do is retain the deposit. In the future, get a large enough deposit as to make that worthwhile.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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