After the signing of the house sales contract, if one of the buyers and sellers reneges on the transaction and the purpose of the contract cannot be achieved due to breach of contract, then if the observant party also agrees to terminate the contract, the breaching party will compensate the economic losses, which is supported by law. The specific compensation methods are: calculating the house price difference, resale interests and the compensation requirements of the observant party. On the whole, the breaching party will compensate the observant party with the compensation amount.
The contract law stipulates that if the agreed liquidated damages are lower than the losses caused, the parties may request the people's court or arbitration institution to increase them; If the agreed liquidated damages are higher than the losses caused, the parties may request the people's court or arbitration institution to reduce them appropriately.
Extended data
If the buyers and sellers reach the stage of property rights transfer, the housing transaction is basically completed, but there will be a buyer's default in this link.
Generally speaking, in the process of house handover, buyers and sellers find that the original owners are seriously in arrears with property fees, or they find problems left over from the house and conflicts between renting and selling at the moment of occupancy, and the buyer requests to terminate the contract.