Posted by John Merchant on December 10, 2006 at 19:17:16:
So what’s keeping you from walking?
Buyers are rarely sued so I don’t understand your problem here.
If you’ve made an earnest money deposit with your P Agreement have your lawyer send a certified, with receipt, letter demanding its refund and threatening suit if its not refunded.
He’ll probably get it back immediately…if not then he or you’ll need to file suit in small claims court which isn’t a difficult matter.
Sounds like you’re not real clear on what your written agreement says so I’d read it before anything else.
We had a contingency on a house to buy, but we didn’t sell our house. We notified the seller that our broker wouldn’t allow us to buy their house unless we sold ours. That was four months ago. My lawyer has attempted twice to reconcile the situation and ask for us to be released. They have not responded to either request.
Does a legal binding contract between two parties have a termination date? Or could this go on until the seller decides to release us? Also, our house is still on the market.
Posted by Ginger on December 30, 2006 at 19:08:32:
In your contract, was the contingency that you would buy when you sold? Was the option period up? Or did you let them know during the option period? If so, then get your earnest money (if any) back and walk on…Reread your contract, then go from there…