Buying a home can take time, money and extensive planning. When a seller backs out of a deal, it can leave you frustrated and unsure of what to do next.
In Florida, both buyers and sellers sign contracts that set clear terms for the sale. If a seller walks away from that agreement without a valid reason, you may have legal options.
Refer to the contract
Most Florida residential real estate contracts include specific reasons that allow either party to cancel the deal. A seller may back out if a contract includes a contingency, such as needing to find a new home first or if the buyer fails to meet certain deadlines. If the seller does not have a legal reason listed in the contract, you may treat the action as a breach.
Know what demands you can make
One option you may have is to request that the seller return your earnest money deposit, but many buyers want more than that. If you still want the property, you may ask the court to force the seller to follow through with the sale. This process is known as specific performance. In Florida, this action is possible when the property is unique and the buyer meets all contract terms.
Another option includes asking for damages. If you spent money on inspections, appraisals or moving, you may ask for reimbursement. The court may award these costs if it finds that the seller broke the contract without cause.
Report instances of bad faith behavior
You might understandably choose to walk away from the real estate dispute and start over, but it is still important to make sure the other party faces justice for wrongful action. If the seller acts in bad faith, you may report the issue to the Florida Real Estate Commission. This can lead to consequences for the seller or their representative.
A seller backing out of a home sale in Florida can cause delays, stress and financial loss. Buyers should stay informed and ready to protect their rights. Even if the sale falls through, buyers have paths to recover money or possibly complete the purchase under court enforcement.
