Addressing a breach of a real estate contract as an agent
As a real estate agent, ensuring that a contract is executed smoothly is of utmost importance. However, in some cases, a buyer or seller may breach the terms of the contract and cause a significant loss to the other party. In such cases, it is essential to speak with an experienced attorney to better understand the legal consequences of the breach and take appropriate action to protect your client’s interests.
An attorney will review the terms of the contract and identify the specific obligations that the other party has failed to fulfill. Depending on the nature of the breach, the client may be entitled to a refund of the deposit, specific performance of the contract, or damages. As the agent, you should advise your client to consult with an attorney on the best course of action and facilitate negotiations with the other party’s agent or attorney.
If negotiations fail to resolve the issue, legal action may be necessary. In such cases, it is advisable to seek the guidance of an experienced real estate attorney who can assist in filing a lawsuit and pursuing the appropriate legal remedies.
A breach of a real estate contract can have serious consequences, and it is essential to take appropriate action to protect your client’s interests. By understanding the legal implications of a breach and working with your client and legal counsel, you can help ensure that the contract is executed in a fair and timely manner.
If you are a real estate agent or broker in need of legal services and want a law firm that has been representing and defending real estate professionals for more than 20 years, call Davis & Gelshenen, LLP at our toll-free number 866.427.2121.