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Breach of Contract: The seller is likely in breach of the real estate contract. This can result in the buyer seeking legal remedies, which could include enforcing the sale through a court order (specific performance) or seeking damages.

Specific Performance: The buyer may file a lawsuit seeking "specific performance," which is a legal remedy where the court orders the seller to complete the sale as agreed in the contract.

Monetary Damages: If the buyer does not pursue specific performance, they may seek monetary damages. This could include any costs incurred by the buyer due to the breach, such as expenses for inspections, appraisals, and legal fees.

Loss of Earnest Money: The buyer could potentially recover their earnest money deposit if the seller breaches the contract, depending on the terms outlined in the agreement.

Potential Legal Fees: The seller might also be liable for the buyer’s legal fees if the matter goes to court and the buyer prevails.

Title Issues: Refusing to sell after accepting an offer could create issues with the title, especially if there are liens or other encumbrances that complicate future attempts to sell the property.

Impact on Reputation: The seller’s reputation could be harmed, especially if they are in a small community or if the buyer decides to publicly share their experience.

#SokolerTeam #RealEstate
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✨The decision to buy or sell a home shouldn’t be made lightly. Here at the Sokoler Team, we want to help make that decision easier by providing you with relevant, educational information about Louisville real estate and the Louisville real estate market right here on our YouTube channel. Whether you’re looking for helpful tips about buying a home, selling a home, or the latest market statistics, we’re here to bring that information together all in one place. We have a passion for helping homebuyers and home sellers achieve their goals and we’d love to talk to you about how we might help you achieve yours. If you have any real estate-related questions for us, don’t hesitate to reach out to us via phone or email today.

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Bob Sokoler
RE/MAX Properties East
Tel: 502-376-5483
Bob@weselllouisville.com

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