Buyer Refuse To Sign Closing Documents
Description
How to fill out Texas Closing Statement?
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FAQ
The Deed. The seller must also sign the deed to transfer title to the home buyer. The deed includes the description of the property as well as identifies the seller and buyer. This document makes the agreement official after both parties sign.
If a buyer fails to complete, you can pursue various remedies such a court order for specific performance, or an order for sale in the county or high court. If you wish to pursue a remedy in equity, you can also apply for an order for specific performance.
A firm purchase agreement is a binding contract, and if the buyer fails to close, they are responsible for compensating the seller. The seller is entitled to be reimbursed for the price difference if the home is eventually sold for a lower amount or for the market value if the home is not sold.
Buyer ? If you don't make the completion, you will lose your deposit and could be at risk of being sued. The vendor may serve a notice on you requiring you to complete and pay the vendor's additional legal costs. You may also have to pay interest on the unpaid purchase price.
In fact, you may face serious consequences if you do. You may be forced to sell. If you don't complete the transaction and have no lawful reason to renege on the contract, you may be forced into "specific performance"?a court order that demands the contract be executed ing to its terms.