Seller Contract Cancellation

[DM Compton]

Hello, I have searched the forum but do not see what I am looking for so hopefully someone will lend some experience here.

Here's the story: I listed my home and accepted an offer which I stated was my last and final with no other concessions. The buyer had a termite inspection done and the examiner determined there was previous damage so the seller wanted a full termite treatment and repairs. While I can understand that I stated I would not put one more penny into the house for any concessions. In the TTR it states after 7 days I as the seller could cancel teh contract and have earnest monies returned. I did so and now the agent is staing that the buy is going to sue for damages.

The "damages" are this: He supposedly halted an expansion of this business in order to free up funds to acquire the house and now states he will have lost revenue.  There may be expenses related to an appraisal, survey etc but noting else.

His business decisions and the purchase of a residential property are not linked in the contract two very separate things.

My take is this is a joke, but I have put a call into my RE attorney. I would appreciate any feedback.

Thanks,

Dennis

[Wayne Brooks]

Agreed his supposed “business damages” are irrelevant.  But, what language gives you the Seller the right to cancel? 7 days after what?   Is the buyer obligated to “remove” some contingency by a certain time?  Simply requesting additional repairs/concessions doesn’t cancel a contract.