Long Beach Island Real Estate Buyer and Seller Breach of Contract Information
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Breach of Contract in the LBI Real Estate Market 
Breach of Contract in the LBI Real Estate Market 
Breach of Contract in the LBI Real Estate Market
Long Beach Island Real Estate
A Breach of Contract in the LBI Real Estate Market is a legal situation that occurs when one party, either the buyer or the seller, fails to perform under the terms and conditions set forth in an agreement of sale (real estate sales contract). The specific outcome of a breach of contract will depend on the contract itself and what protections, if any, are afforded the parties. It is for this reason that any contract breach must be discussed with an attorney.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Breach of Contract in the LBI Real Estate Market
The outcome of a Breach of Contract in the LBI Real Estate Market will depend on how an attorney has protected their client during attorney review. I must remind the reader that any legal matters MUST be discussed with an attorney and the information I am providing is general information only as I am not a licensed attorney. When a buyer breaches a sales contract, the seller may be entitled to monetary compensation for damages incurred. The damage amount will vary but it can often be defined as the difference between two sales prices, the fair market value of the home at the time of the breach, holding costs, attorney fees, etc. If a seller breaches the sales contract, the buyer may have legal protections as well. These can include monetary compensation, the right to cancel the contract, and even forcing the seller to complete the sale of the home on Long Beach Island.
Long Beach Island Real Estate Buyer and Seller Breach of Contract Information
Every real estate transaction on Long Beach Island is different and there are many ways to legally break a contract, depending of course on how it is written. Contingencies, time is of the essence of dating, and home inspection requests are only a few of the ways to break a contract, often with no repercussions. Legal matters should be discussed with your attorney but it is prudent to know your rights and risks before signing any contract to buy or sell a home in the Long Beach Island real estate market. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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