Without going into great detail I am trying to purchase a house in nc and after making an offer on one the seller accepted but is now saying she isnt well and doesnt want to move. My realator says its my choice but it may go to court . Could she sue? We have a signed contract and the earnest money is in ecrow. closing date is supposed to be the end of this month. Any suggestions or similiar experences?
2006-11-07 06:03:56 · 10 answers · asked by Krista K 1 in Business & Finance ➔ Renting & Real Estate
Legally you are in the right.
You really have 3 alternatives:
1. File an action in civil court, where you request the court to force the seller to perform per the terms of the contract (force her to sell you the house). This will take a long time and since you probably can't buy another in the meantime; the wait could put a big damper on your life.
2. Move on and find another house that fits your needs. Once you purchase this home you can assess the damages and sue the first seller for your losses IE. similar house but had to pay more money, moving twice, etc...
3. Get the seller to refund you any out pocket expenses IE. appraisal, inspections. etc. and chalk it up to learning experience.
Don't forget lawyers fees aren't cheap; so unless your talking big bucks in losses your probably better off licking your wounds & moving on.
Good Luck
2006-11-07 07:54:25 · answer #1 · answered by Cside42 1 · 0⤊ 0⤋
On both sides of the deal a seller or buyer cannot back out of the deal once the contract is signed and earnest money is paid.
It is very easy for a buyer to find a reason to back out of an agreement due to an issue with the home inspection, etc. but more difficult for a seller. If she has a good lawyer though, he/she might find a valid reason to negate the deal.
It sounds like it will be a fight if you go through with it. If it is your dream house and you are getting a very good buy, stick to it. The seller signed a contract and has no excuse to back out. As brutal as it may sound, her health is not your concern. If you can see yourself finding an equal or better property easily (and in this buyer's market you should) then just drop it and move forward.
The ball is really in your court.
2006-11-07 06:15:22 · answer #2 · answered by Monstblitz 4 · 0⤊ 0⤋
You have the right to sue her but I do not think a judge will put someone out on the street. You can sue her for any fees you paid for inspections and mortgage fees. Another agent in my office has gone through the same thing . She had the Seller and about a week before closing, she decided she did not want to move. The seller was not taking her Anti- depression medication. She assisted the buying agent with finding another home for the buyer in the same area and all worked out. I believe the buyer only wanted her deposit back. Suing is a long process and can go on for weeks. Its up to you on whether you want to sue.
2006-11-08 03:10:10 · answer #3 · answered by Ames 2 · 0⤊ 0⤋
Not only you as the buyer have a right to force the transaction, but the real estate company could sue for a commission as well. However, finding a loophole to get out of a deal isn't that difficult in most cases for either party. If she really wants out, you may be best to try to reach a settlement of a return of earnest money plus an additional amount to cover your costs of obtaining financing and loss of time in the market. You may want to get an attorney to simply draft a strong letter indicating you are serious about following through on this transaction and see if her resistance fades. It all depends on how badly you want this particular house.
2006-11-07 07:01:20 · answer #4 · answered by larry r 3 · 0⤊ 0⤋
If you signed a contract and have forked over earnest money the seller can't back out unless you have done something to negate the agreement. However, that doesn't stop it from going to court anyway. You will probably win, but you have to ask yourself if it is worth the fight.
2006-11-07 06:09:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋
My guess is that she found a buyer willing to pay more than you.
You can sue to buy the house at the agreed upon price, but is it worth the time and money to you to do that?
I would just get the EMD back, and call it even.
2006-11-07 08:47:43 · answer #6 · answered by Anonymous · 0⤊ 0⤋
If you have signed contracts then you can sue her for money you've lost, lawyer fees, inspections, and your agent can probably get their commission. Talk to your agent and lawyer. If i were you id def get the money back you put into it, you are entitled and your agent is entitled to that money.
2006-11-07 07:01:13 · answer #7 · answered by strtat2 5 · 0⤊ 0⤋
I'M A REAL ESTATE AGENT IN THE O.C,CALI.
MY TOLL FREE NUMBER IS 1(866)825-9618
LET'S GET TO THE BOTTOM LINE. IS THERE ANY CONTINGENCY IF THEREE IS THEN SHE MAY BACK OUT.IF SHE DOESN'T YOU GET YOUR DEPOSIT BACK AND SHE CAN NOT SUE YOU.IF YOU STILL WANT TO PURCHASE THE PROPERTY YOU CAN TAKE HER TO COURT.
2006-11-07 12:25:13 · answer #8 · answered by The O.C Real Estate Agent 2 · 0⤊ 0⤋
got a signed contract? sue her and either make her move or collect some money
2006-11-07 06:06:35 · answer #9 · answered by bayareart1 6 · 1⤊ 0⤋
if the papers are signed she cant back out but if she wants to keep her home let her have it ... geez she's sick and needs to stay go find another house
2006-11-07 06:07:42 · answer #10 · answered by GAgirl 4 · 1⤊ 1⤋