Re: May Be Getting Sued for Breaking Contract, Not Sure of the Possible Outcome
that is a possibility
Will we be forced to abide by the contract and buy the property?
if you mean all the money, no. They do not get both the property and the money you agreed to pay for it to purchase it.
Will they get the money and still get to keep the property?
if you told them you are reneging on the contract, no, they are not breaking the contract. You already did that. They are simply attempting to secure the property to prevent damages.
We technically still have 8 days to pay the down payment as stated in the contract but they've already changed the locks and reclaimed ownership, does that mean they broke the contract?
I suspect if you lay out the down payment they will turn the unit over to you. If they didn't, then you would have a cause of action to either rescind the sale or demand performance of the contract.
the problem: nobody here has read your contract so exactly what you can do or what the owner can do cannot be accurately determined.
It sounds like it would be worth paying a lawyer to read your contract and give you an opinion of what you can and cannot do.
I am not an attorney and any advice is not to be construed as legal advice. You might even want to ignore my advice. Actually, there are plenty of real attorneys that you might want to ignore as well.