Expert, localized Los Angeles answers provided by Heather Roy

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Buyer Backs Off

  If the buyer pulls out of the deal 6 days before the scheduled settlement day, am I entitled to keep the deposit?
 
 

The answer would depend on a lot of things -- what's written in the sales contract, what contingencies were involved, the buyer's reason for backing out. No way I can judge. If a large amount is involved, consult a lawyer. If it isn't enough to pay for a lawyer's time, try small claims court, where you can represent yourself at little cost and hear what a judge has to say.

 

    Edith
Originally published on June 25, 2007
 
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