Seller wants out - help! - Posted by Tommy

Real Estate Investing Real Estate Law
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Posted by Lynn on January 04, 2005 at 18:57:35:

What was she looking for in the “approval” of the closing docs? I have been in several situations–one where loan fell through last minute so I tried sub2 and the seller said no way so I got private money and closed, another where the seller “changed her mind” and I started Specific Performance proceedings and she realized she was in an uphill battle.

I would think that you would have the opportunity to satisfy anything in the closing docs she didn’t approve to clear the condition and move forward. If the property is a really good deal, it’s worth an attorneys review. However, if she has a blanket “out” with her contingency, you better tighten your documents next time!

Good luck

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Seller wants out - help! - Posted by Tommy

Posted by Tommy on January 04, 2005 at 17:00:49:

I have a signed purchase and sale agreement but allowed the seller of a property to add a contingency in the acknowledgements that she could review and approve the closing docs before the closing. She’s getty antsy and wants to cancel the deal. Will this give her a out? I really want the property.