Posted by gail on September 27, 2007 at 13:00:59:
i appreciate your comments. yes there are two sides. But when the neighbors feel that we need to get rid of this guy out of our area, i don’t think there is going to be any hard feeling towards us from the neighbors.
i believe its about thime this guy owned up to his agreement.
agreement - Posted by gail
Posted by gail on September 22, 2007 at 14:43:49:
we have a written letter of agreemnet to purchase 37.5 acres that adjoins our property.
the seller now wants to back out of the agreement.
can we force him to sell?
he wrote a letter stating his price, we sent certified mail our acceptance to purchase property at his price. We then found out that he told the title company that the deal was not going to go thru. The title company feels our letters and emails would be binding.
can we sue him and make him sell us the ground.
agreement - Posted by Nike
Posted by Nike on September 25, 2007 at 15:44:48:
Yes- if you had a binding contract. Was the seller’s letter an offer, or merely an ivitation/solicitation for an offer? Did the letter include a description of the land? If it was a legal offer then you had a binding contract the moment you mailed your acceptance. Post more information. Good luck.
Re: agreement - Posted by River City
Posted by River City on September 23, 2007 at 09:04:25:
There may be ways you can cloud the title, however, I believe in your case, the only way you will be able to do this is with the services of an attorney. Maybe you should consult with one.
Re: agreement - Posted by gail
Posted by gail on September 27, 2007 at 13:31:27:
her is the main body of letter sent to us.
June 28, 2007
After having the real estate agent come and look at the 37.5 acres,
they have gotten back with me regarding the fair market value of the property.
They told me the 37.5 acres was worth $1,500-$1,800 per acre.
37.5 acres @ $1,500 per acre is $56,250.
If you would like to purchase the 37.5 acres at the above amount
let me know in writing within 30 days from the date of this letter.
If I do not hear from you within the 30 days from the date of this letter
my plans are to put the acreage on the market for sale.
We responded within a few days by certified mail and stated that we would puchase the ground at his stated price.
Re: agreement - Posted by gail
Posted by gail on September 24, 2007 at 12:31:34:
question is can we force him to sell ,since we have a letter of agreement and corresponances related to us buying the ground. if we have to get an attorney to do so thats ok.
basically the seller is wanting to back out for no good reason.
Two sides to everything - Posted by Rick, the Probate Guy
Posted by Rick, the Probate Guy on September 26, 2007 at 05:44:03:
Sellers never back out for “no good reason.” You may not agree that their reason was valid or rational, but the sellers won’t likely see it that way.
If you go the legal route, you should select an experienced real estate attorney with much wisdom, not just knowledge. Your title company may have such a referral. Talk to the people at the management level for names.
A skillful legal practitioner will best know how to approach the owners. WHile not a guarantee, it could be the difference between an simple solution and an expensive, long drawn-out lawsuit.
If negotiation doesn’t work, the attorney - if convinced that your documents are sufficient to comprise a bonafide contract for purchase - will probably recommend suing based on failure of the seller to perform on the contract (“specific performance”). Be prepared to spend some serious money and perhaps several years getting thru the court system, and still no guarantees.
Also, put yourself in the seller’s position and remember that they will be somewhat outraged at your insistance that they sell. This will likley become local gossip in the neighborhood that you intend to own the land. Sort of like a poison well.
I’m not an attorney and I don’t want to debate this matter. It’s just that there are two sides to every story and getting someone else to act on what they will insist was an uncompleted negotiation may very well be more than you bargained for.
Good luck