Armin Hohenadler

4) If you unilaterally terminate the sales contract, the seller can sue you and take legal action for a certain performance of the content of the contract you have just published, it may be obvious that it is by no means an agreement to sell the property. These contents are the conditions that the seller undertakes to respect. There is a difference between the sales contract and the sales contract. In the sales contract, the seller has the right to cancel the sale after informing the buyer that the buyer is not complying with the terms of the contract. If the price is partially paid, but the buyer has not paid the balance within the time limit, the seller may sell the property to any other buyer after terminating the former buyer. Thus, you can sell this property to another buyer because you have terminated the buyer correctly. If you have accepted their request for an extension of time, you must revoke them without notice. This is mandatory for you. If all the eventualities of the contract are met, the termination of a sales contract becomes difficult. Some states consider real estate purchase agreements to be „specific performance agreements“ and stipulate that, when all eventualities are met, both parties must meet the conditions of the contract. This means that the buyer must buy the property and the seller must sell it. If the buyer no longer wants the property, a fence must still take place.

The buyer – now the new owner – of the property can put it up for sale immediately after closing, but the buyer must take possession of the property in these jurisdictions. If a buyer terminates the contract of sale without a legal reason, if all eventualities are met, sellers can keep all purchase funds that have been paid as serious money deposits. In accordance with the California Civil Code, the two cancellation instructions, signed by both the buyer and the seller, as well as a cancellation of the sales contract, must be submitted in order for the entire process to be canceled. The return of the deposit is subject to the conditions of cancellation. `Any contract of sale (agreement of sale) which is not a registered deed of assignment (deed of sale) would not satisfy the requirements of sections 54 and 55 of the Transfer of Ownership Act and would not confer title or interest in immovable property (with the exception of the limited right granted under section 53A of the Transfer of Ownership Act).` One…