Liquidated Damages and the California Residential Real Estate Purchase Agreement

Explains the Liquidated Damages clause in the California Residential Real Estate Purchase Agreement.

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2 comments

  • South Ethiopia

    Kathy, biggest confusion I have encountered “what is considered breach of contract?” Suppose qualified buyer made an offer to the property that is out of market, the bank declined the property after appraisal ‘let say no comparable sale in the area to ascertain property’s current value” yet the buyer still qualifies for the loan, but the bank rejected the property. 17 days is gone while contingency is still in place. Has the buyer breached the contract?

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