Buyer bounced his deposit check- what can I do?

[LisaS]

We recently signed contracts with a buyer for our home. He gave us the runaround for a month until the terms of the contract were almost up then he has bounced his$15,000 deposit check? Is there any legal action I can take?

 

[charlesesq]

We recently signed contracts with a buyer for our home. He gave us the runaround for a month until the terms of the contract were almost up then he has bounced his$15,000 deposit check? Is there any legal action I can take?

You should be able to cancel the contract and sue for damages, if there are any in addition to the NSF fees. Are there any other remedies in the contract that you may be entitled?

 

[LisaS]

It appears that the paragraph pertaining to the deposit check on our contract says that if they bounce the check, the contract is deemed null and void. However the following paragraph goes on to say that if the seller does not make any of the payments associated with this contract that the purchaser is entitled to keep the deposit and cancel the contract.

Kind of a grey area, don't you think? Consdiering I can't keep what I don't have.