Help real estate condo for sale please read on?

If a person buys my home for all cash. And signs the contract that we will close in two months and puts 20 percent down.





My question is is there anyway he can break the contract????????





I know if you find a buyer that have to get a mortgage if the appraiser puts your property worth lower then buyer can get out of contract, also alot of people are not qualifying for mortgage these days and I am selling my place without a real estate agent.





Thank you...Help real estate condo for sale please read on?
If you can't or wont get a loan, then you don't have to go through with the contract. You didn't put any money down or take out any loan. It would be very difficult for any one to make you get a loan and buy the property. Don't give a reason. You don't owe them anything.Help real estate condo for sale please read on?
If he is paying ALL cash then there is NO need for an appraiser. An appraisal is needed for the bank that is lending money on a house, to make sure they arent lending on a overpriced property. And yes there are always ways to get out of a contract. A good attorney can find a loop hole. And the previous person that said you get the 20% Earnest money may not be correct. you MIGHT get to keep the earnest money, but highly unlikely. That needs to go to court to be decided. Who has the 20%? I hope you found a good real estate attorney and they are holding the money. Its well worth the $400.00 it will cost you to get an attorney, especially in your case when you have NO representation or professionals helping you. Good luck.





Posted by Vicki Watzlawick, Broker Owner Exit Platinum Realty, Illinois. www.vickisdreamhomes.com
they can.. but they dont get their earnest money back (the 20%) its yours...