Can I start marketing the property again if the buyer has already failed to close multiple times? – North Carolina

Short Answer

Sometimes, but not automatically. In North Carolina, a seller (or an assignor standing in the seller’s shoes under an assignment) usually should not re-market the property until the existing contract is properly terminated or the buyer is in clear default under the contract’s terms. If the contract has a firm closing date and makes time important, repeated missed closings can support termination—but the safest path is to follow the contract’s notice and termination steps before re-listing or accepting a new offer.

Understanding the Problem

In North Carolina real estate deals, the key question is whether the current purchase contract is still legally “alive” even after the buyer misses one or more closing dates. The decision point is whether the contract has been validly ended (or can be ended now) based on the buyer’s repeated failure to close and other nonperformance. If the contract is still in effect, marketing the property again can create a conflict between two buyers and increase the risk of a dispute.

Apply the Law

North Carolina generally treats a signed real estate purchase contract as binding. A buyer’s failure to close by the agreed date may be a breach, but the right to treat the contract as terminated often depends on the contract language (especially any “time is of the essence” wording), whether the seller agreed to extensions, and whether the seller gave any required notice to perform or notice of termination. The main forum for disputes is North Carolina state court (typically the county where the property is located), but most problems are avoided by using the contract’s written notice procedures and documenting default before re-marketing.

Key Requirements

Clear default under the contract: The buyer must have missed a required performance (most commonly closing by the deadline, delivering funds, or satisfying other required steps) in a way the contract treats as a breach.
Proper termination (or a contract that ends automatically): Many contracts require written notice and an opportunity to cure, or they require a written termination notice delivered in a specific way. If the seller repeatedly grants extensions, the seller may need to set a firm final deadline before treating the deal as over.
No conflicting obligations to two buyers: Before accepting a new offer, the seller should be able to show the first contract ended (or is being ended) so the seller is not promising the same property to two different buyers at the same time.

What the Statutes Say

N.C. Gen. Stat. § 47E-5 (Time for disclosure; cancellation of contract) – In certain residential transactions, a buyer can have a statutory right to cancel if required disclosures are not delivered on time; this is a separate cancellation right from a buyer’s failure to close.

Analysis

Apply the Rule to the Facts: Here, a purchase contract was assigned to an end buyer, and the end buyer missed multiple agreed closing dates and has not performed as required. Those repeated missed closings strongly suggest a buyer default, but whether the property can be marketed again turns on whether the contract was already terminated, whether extensions were granted in writing, and whether the contract requires a written notice to perform and/or a written termination notice before the seller treats the deal as ended. If the contract is still in force, re-marketing can create leverage problems and expose the seller/assignor to claims that the seller interfered with the buyer’s right to close.

Process & Timing

Who acts: The seller (or the assignor if the assignment agreement gives the assignor the right to enforce/terminate against the end buyer). Where: Notice is typically delivered to the buyer and any agents/attorneys listed in the contract; disputes are handled in North Carolina state court in the county where the property is located. What: A written notice to perform (or “notice to cure”) and, if not cured, a written termination notice—using the delivery method required by the contract. When: As soon as the buyer misses the closing deadline(s) and the contract’s notice/cure timeline allows; if a final deadline is set, it should be stated clearly in writing.
Document the default: Keep a clean paper trail showing the scheduled closing date(s), any written extensions, the buyer’s failure to deliver funds/documents, and any communications about delays.
Re-market only after the contract is ended: Once termination is effective under the contract (or the buyer signs a mutual release/termination), marketing and accepting a new offer is usually much safer. If the buyer disputes termination, counsel may recommend a specific approach to reduce the risk of a later claim.

Exceptions & Pitfalls

Extensions can weaken a strict deadline: If the seller repeatedly agrees to move the closing date, a court may view the deadline as flexible unless a firm final deadline is set and communicated in the way the contract requires.
Wrong notice method: Sending a text or informal email may not satisfy a contract clause requiring written notice delivered to a specific address or person. A defective notice can make termination harder to defend.
Earnest money and release issues: Even if the buyer is in default, disputes often arise over who gets the deposit and whether a release is required before the escrow agent will disburse funds.
Assignment complications: When a contract is assigned, the assignment agreement may shift duties and remedies between assignor and assignee. The right party must give notice and terminate, and the original seller’s consent requirements (if any) must be respected.
Marketing vs. accepting a new contract: Advertising the property may be less risky than signing a new binding contract, but either step can become evidence in a dispute if the first buyer claims the contract was still enforceable.

Conclusion

In North Carolina, a buyer missing multiple closing dates can support treating the buyer as in default, but re-marketing is safest only after the existing contract is properly terminated under its notice and cure rules (or ended by a signed mutual termination). The key threshold is whether the contract’s closing deadline and default provisions allow termination now. The next step is to send a written notice to perform (and, if not cured, a written termination notice) using the contract’s required delivery method by the contract’s stated cure timeline.

Talk to a Real Estate Attorney

If a buyer keeps missing closing dates and the question is whether the property can be marketed again without triggering a lawsuit, our firm has experienced attorneys who can help clarify default, draft the right notices, and protect the ability to move on to a new buyer. Call us today at [919-341-7055].

Disclaimer: This article provides general information about North Carolina law based on the single question stated above. It is not legal advice for your specific situation and does not create an attorney-client relationship. Laws, procedures, and local practice can change and may vary by county. If you have a deadline, act promptly and speak with a licensed North Carolina attorney.