Specific Performance Question - Posted by Jon

import · November 10, 2004, 10:55am

Posted by Mark Reynolds on November 14, 2004 at 08:56:23:

Yes you can sue for specific performance. Your odds of success are somewhere between slim and none. Write it off, return the EM and get to work on selling the property again.

import · November 10, 2004, 10:55am

Posted by Jon on November 10, 2004 at 11:55:16:

I have a house under contract to sell. It has been under contract for a few weeks. The selling agent has just informed me that the buyers want to back out, because of the neighborhood crime rate. I am not sure exactly what the crime rate is, but can I sue for specific performance & what is the likelyhood of success?

import · November 17, 2004, 10:46am

Re: Specific Performance Question - Posted by River City

Posted by River City on November 17, 2004 at 11:46:13:

I would just keep the earnest money and let them walk. That’s one thing the earnest money is for anyway. Forget about suing them. It would be difficult to convince a judge to make them purchase a home in a neighborhood that they believe is unsafe.

import · November 15, 2004, 8:05am

Re: Specific Performance Question - Posted by Natalie Smith

Posted by Natalie Smith on November 15, 2004 at 09:05:45:

I am a real estate broker, not an attorney. I agree with Mark that your chances of success are slim to none.

I would make an attempt to keep their earnest money for your trouble. Maybe if you (or your agent) tell them that you would accept the earnest money as a settlement instead of taking them to court, they might agree that this is fair.

import · November 10, 2004, 3:05pm

Re: Specific Performance Question - Posted by Mike

Posted by Mike on November 10, 2004 at 16:05:14:

It depends on the state you are in. Make sure seller does not have a contingency in the contract that is broad enough for him to get out of the contract.

import · November 17, 2004, 10:58am

Re: Specific Performance Question - Posted by Jon

Posted by Jon on November 17, 2004 at 11:58:01:

Thanks for all of your input. In all the research I’ve been doing I’ve found that success in this type of suit would be slim to none, but in an effort to save the deal, I offered the buyers $2,500 cash back out of closing to buy furniture or whatever. We’ll see what happens. I doubt they will still want the place since they already have backed out, but its worth a shot.

Thanks again, Jon