Posted by John Merchant on May 14, 2005 at 20:21:22:
Re-reading your post, it looks like there was and is no contract so no court would enforce it.
Remember, a contract on RE must be written and signed as to all portions of the contract…or there is NO contract. Everything must be settled and agreed to, and if all parts were not so agreed, no contract exists.
If he hasn’t already filed suit and served you with the papers, don’t lose any sleep over it.
Probably no lawyer would take it on or else the legal fees demanded upfront and in cash would be too high for the seller to pay.
can i get out of this contract - Posted by dave colehour
Posted by dave colehour on May 14, 2005 at 04:16:58:
the day we were to close we did a walk through that morning and discovered water had seeped into the basement causing damage to the carpet and doors. i didn’t close and told them i was no longer interested in the property.
buyers reciept of accepted contract is not signed, there’s no signed property disclosure, my wife had my power of attorney to sign for me but this was never used, hers is the only signature on paper. can i get out of this?
Buyer rarely made to buy - Posted by John Merchant
Posted by John Merchant on May 14, 2005 at 11:01:56:
Whereas a seller is frequently ordered to sell, on his sales agreement, it’s not usually worth the seller’s trouble and legal expense to try to make the buyer perform.
You’ll probably lose your earnest money but that’s likely all the seller will get from you.
I’ve actually briefed this situation and nationally find very few decisions ordering a buyer to perform.
Think about this: Whereas every property is unique and a buyer is getting a one-of-a-kind property when he buys, the seller has lots of prospects to buy his property…so seller’s loss is only temporary and he’s going to save money if he concentrates on finding a better buyer.
Re: Buyer rarely made to buy - Posted by dave colehour
Posted by dave colehour on May 14, 2005 at 19:42:38:
thanks john. we’ll be in court sometime after the 20th if he’s going to pursue this. the listing agent was also the intermediary, so she’s looking for the commission i suppose.