i decided to sell my home a while ago and i signed a contract to sell this house to this certain buyer. This buyer is a lawyer. Now I have changed my mind to sell my hom and the buyer is saying he already sold his house and he'll sue me a million dollars if i back out of the contract. wut should i do??
2007-09-20 10:22:25 · 8 answers · asked by Asif 1 in Business & Finance ➔ Renting & Real Estate
what he can do is to sue your for specific performance meaning the court can force you to obey the terms of the contract and sell it to him, he could also be awarded attorney fees if he prevails
only hope is that he ask for reduction in sale price which you would not have to agree to then maybe he would back out
2007-09-20 10:28:40 · answer #1 · answered by goz1111 7 · 0⤊ 0⤋
Sell it! I haved run into the risk of wanting to back out of a contract except I was the purchaser. I had an issue with the land that the home was on however both lawyers thought I was way out of bounds. Even though in my opinion I wasnt. Just sell it. Its not worth the damage it can cause.
2007-09-20 10:31:30 · answer #2 · answered by Josh T 1 · 0⤊ 0⤋
He will sue you for millions of dollars!? lol
Well, I suggest you contact a lawyer yourself who is specialized in real estate and see what is possible here. Don't forget that you signed already a certain contract. Good luck!
By the way, have a look at this great blog about real estate & refinance. It has some great tips, ideas and good articles:
http://www.lendadvisors.com
2007-09-20 10:35:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Sell him the house. He can almost certainly sue you for specific performance and force you to sell. Once you have agreed to sell, you're pretty much locked in.
2007-09-20 10:30:42 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Hire a lawyer (not the buyer). Take them the contract and let them see what your options are.
2007-09-20 10:30:09 · answer #5 · answered by Chuck92121 2 · 0⤊ 0⤋
I had my home FSBO and I have changed my mind to sell. I want out of contract.
I have had difficulty finding another place to live. Can buyer force me to live on street? I will reimburse his expenses with inspection, appraisals.
2015-06-20 06:40:03 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Sell your house.
2007-09-20 10:34:14 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Contact a real estate attorney. They are experts at this type of thing.
2007-09-20 10:32:04 · answer #8 · answered by livigninchrist! 2 · 0⤊ 0⤋