My parents, the seller, want to cancel escrow. There is 30 days left on a 120 day escrow. It is a 2 million dollar all cash deal (not sure if funds are in escrow yet)., all contingencies have been removed. Can they stop the sale and what could be the legal liability involved?
Answer
You can force the sale by a lawsuit or damages from their actions.
Answer
If the contingencies have been removed and the seller refuses to close escrow, then the seller is in breach. The buyer can sue for damages or elect to have the court order specific performance of the contract.
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