Buyer's Deposit Check Bounced

[yourbudweiser]

What is the name of your state (only U.S. law)? FL

I have a signed contract to buy my house for the asking price, all cash. My agent was notified by the title company that the buyer's $5,000 deposit check bounced and they missed the deadline for the 2nd deposit. The buyer's agent contacted the buyer who lives in Canada and the buyer states that he still intends to buy the house come closing on July 7th. Although I am not holding my breath and the house has been put back on the market, I am waiting to see if they come through on the 7th. In the meantime, if the sale falls through, what can I do regarding the $5,000 deposit that bounced? The house was taken off the market for more than a week while we were waiting for the check to clear.

 

[FarmerJ]

Have you been able to get a copy of the bounced check ? That would be a logical first step , then once you have it perhaps your atty can for a one time flat fee send a cancelation notice to the buyer so you can go ahead and continue to try to sell it. I cannot imagine the buyer being able to win any claim in court that you broke the contract since that check bounced BUT anyway this is something your atty can discuss with you.