Posted by casual reader on September 06, 2004 at 15:12:37:
I think you got this backwards. A property is unique – there ain’t no other like it. Buyers are not unique. A specific performance suite against the seller is much more likely to succeed than is one against the buyer.
How do i break a signed contract to sell home ? - Posted by Dan Branstetter
Posted by Dan Branstetter on August 22, 2004 at 17:43:36:
Hello i am a new RE AGENT MY HOME WAS GOING TO BE MY FIRST TRANSACTION,MY WIFE AND I OUR GETTING DIVORCED NOW SHE WANTS TO TRY AND KEEP THE HOME BUT WE SIGNED THE CONTRACT TO SELL ABOUT 10 DAYS AGO I JUST FOUND THIS OUT TODAY ITS SUNDAY AND WILL NOT BE ABLE TO TALK TO MY OFFICE UNTIL TOMORROW THE BUYERS HAVE ALL READY PUT DOWN $15,000 DEPOSIT HAD HOME INSPECTION DONE APPRAISAL AND OUR EXPECTING US TO BE OUT OF THE HOME IN 30 DAYS I NEVER WANTED TO SELL BUT SHE INSISTED NOW SHE IS WANTING TO TRY AND SAVE OUR HOME HER FAMILY HAS NOW OFFERED TO HELP FINANCIALLY IF NEEDED WE HAVE APRX $230,000.00 IN EQUITY BUT HAVE 150,000.00 IN DEBT WE WERE GOING TO PAY OFF I,HOW DO I BREAK THE CONTRACT AND WHAT IF ABLE WOULD I BE LIABLE FOR TO PARTIES INVOLVED WOULD GREATLY APPRECIATE YOUR ADVICE CONCERNING THIS MATTER
Unbelievable - Posted by Rob Ricker
Posted by Rob Ricker on August 25, 2004 at 24:21:45:
If you want to do the right thing, then tell your wife that it’s too late to back out. It sounds like she needs a lesson in decision making and accountability. It may be a woman’s perogative to change her mind, but this is ridiculous.
How do i break a signed contract to sell home ? - Posted by Dave T
Posted by Dave T on August 22, 2004 at 20:32:53:
Refund the earnest money deposit and offer to reimburse the buyers for their out of pocket expenses (inspection, appraisal). Tell the buyer that the sellers have changed their minds.
The buyer will be able to find another property.
Remove the CAPS LOCK key from your keyboard and throw it away.
Breaching written contract - Posted by John Merchant
Posted by John Merchant on August 24, 2004 at 10:33:02:
If you’re a brand new agent, then the first step here is for you to have a serious talk with your Broker about this problem and get his/her advice.
I’d be more than a little disturbed if I learned any agent of mine was contemplating breaching any contract to sell (or anything else he/she’d agreed on in writing) and I’d probably terminate such an agent at once if this were done.
Re: How do i break a signed contract - Posted by eric
Posted by eric on August 23, 2004 at 10:30:41:
Definitely loose the caps lock! I would beg and plead with the buyers to get out of the contract. You may have to pay them some additional money to get them to go away. If they don’t want out and you “cancel” the contract, be prepared to get sued.
Re: Breaching written contract - Posted by Denise
Posted by Denise on August 26, 2004 at 16:21:23:
I’d have my attornies all over you a contract is a contract do the right thing.
Re: How do i break a signed contract - Posted by Dave T
Posted by Dave T on August 23, 2004 at 19:12:13:
I read in a Robert Bruss syndicated article that a specific performance lawsuit against the seller almost never succeeds because the buyer can rarely demonstrate how he was damaged when there are other acceptable houses that meet his buying criteria on the market.