hi we are in the middle off buying a house and we have got to the part where we have signed contracts and waiting to go ahead with completion contract, however the chap we are buying from has pulled out of the 1 he is buying and saying he will not move out of ours until he has found somewhere. i went over there last week to measure up and the wife told me there would be no probs with the date we offered her and they will go to rented accommodation. i'm stuck as mine at the moment has sold and the lady is waiting to get in here on friday. has any one please got any advice on what i can do it will be muchly appretiated as i have to my son dog and cat to think about aswell thank you.
2007-09-08 10:06:53 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
What does your contract say between you and the Seller? If your loan is funded and title has recorded the property in your name they HAVE TO get out. If the Seller is refusing to sign then more than likely he is in breach of contract.
Regardless of what happens with your Seller you will not be able to postpone your move out of your home unless the new Buyer agrees to it which they don't have to in which case you'll need to move or be in breach yourself.
It is always best to try to work something out with them but if that is not possible contact an attorney. If you are working with a Realtor have them or their broker try to come to an understanding first though.
2007-09-08 10:28:06 · answer #1 · answered by QT777 2 · 0⤊ 1⤋
Time to get the REALTOR involved and their manager or Broker. You are looking for something called "specific performance" it has to do with the Seller living up to their end of the bargain. Was the contract contingent on them being able to buy something else? Probably not. Ask the real estate attorney at the title company (closing company) for help. Your REALTOR should be able to get all of this straightened out. The contract will prevail and you should be OK if everything was written the way I suspect it should have been. Good luck.
2007-09-08 10:14:20 · answer #2 · answered by helprhome 5 · 0⤊ 1⤋
Once you close you are supposed to be given possession unless you have agreed in writing to let them stay until a certain date - and then they'd normally pay you rent for that time.
That said, if they just DON'T move, you'd probably have to take legal action to get them out.
Good luck.
2007-09-08 10:15:50 · answer #3 · answered by Judy 7 · 0⤊ 1⤋