Posted by Ben (TX) on July 18, 2005 at 15:29:52:
Most states have ‘recision’ laws giving either party the right to recind the sale within a certain period of time. If it’s 3 days or more in your state, the deal is off.
You need to run this by a lawyer, but I would be happy if I just got my money back. Unless there’s some overriding reason why you just HAVE to have this property, let it go…
seller wants to stop sale - Posted by Pa Xiong
Posted by Pa Xiong on July 14, 2005 at 08:27:54:
Do sellers have a right to recant/request not to sell thier property after they have accepted the offer to purchase? The offer to purchas was drafted legally by the buyers and the sellers have sign the papers. However, after 3 business days, sellers calls to stop sell. Is that legal? What should I do? I am not a broker or realtor. Please help as soon as possible. Thank you for your time and assistance!
Respectfully,
Pa Xiong
Re: seller wants to stop sale - Posted by River City
Posted by River City on July 25, 2005 at 06:08:08:
The Federal Truth in Lending Act does give homeowners a 3-day right of rescission in the case of a refinance. It does not give them the right to rescind in a purchase transaction.
Re: seller wants to stop sale - Posted by River City
Posted by River City on July 18, 2005 at 10:48:42:
Without seeing the agreement, it is difficult to say. Does your agreement indicate that either party has the right to rescind the agreement within three days? Was the agreement signed by all of the owners on title to the property? Is it worth taking the sellers to court to force the sale?