Updated almost 4 years ago on . Most recent reply
HUGE PROBLEM IN BUYING LAND NEED ADVICE!
I have very important question in regards to terminate an agreement of sale. Heres the case...I had an AOS to buy 4 lots of land from a buyer who lives next door .......After having it signed , I decided to assign two of the 4 lots to someone else. as a result two new AOS were signed one for me for the two lots I wanted to build on and a new aos for lots I wanted to sell for quick profit.
But in a nutshell I want to terminate his agreement to buy. Here’s the short story, I signedan AOS with sellers to buy 4 lots xxx1 and xxx2 leithgow and aaa1 and aaa2 n 4th st 19123 (I replaced real address with xxx and aaa
I later decided that I want to build out all 4.
In his AOS he had a contingency yThe contingency was lot relocation of aaa1 and aaa 2 n 4th st (the lots in his aos). They were not specific on sqft size
All lots above are part of one large lot YYY n4th st. So we went to get it subdivided into 4 equal lots.
The survery district approved 4 , 1200 sqft lots but it did not pass zoning code for RSA-5 district .
1. Does this mean his contingency was not met?
A) he wants to file suit and lis penance
B) since his contigency did not specify sqft of lot relocation does this mean there was no meeting of minds between seller and buyer and can void the contract?
2. Aside from meeting of minds, it not failing tom let his contingent as result can the sellers rightfully terminate his agreement?
3. Does he have the right to make the sellers wait on a variance or do a larger subdivision? The sellers are acting in good faith here, there plan was to nt have lots larger than 1000 sqft built bc it would take away the natural light they get on their large home next-door , they agreed to try 1200 but that was not conforming to code. Can the buyer force the sellers to wait on variance or do larger subdiviosn?
4. Also aaa1 and aaa2 address's (that are in the buyers AOS) do not exist yet , they do not have their own OPA # or deeds, does this alone void the contract?
5. In his contingency there was no outlined sqft he desired, does this mean there was no meeting of the minds between him and Sellers and make this contract voidable?
6. If he decided to fight this and files lis pendence, can I still close on my AOS for lots xxx1 and xxx2 leithgow if I subdivide the one large lot yyy n 4th st into just those and leave the 4tv st side alone and can I build on them (xxx1 and xxx2) while the fight for aaa1 and aaa2 taking place and has lis penance ?
7) if the buyer of aaa1 and aaa2 is in the wrong about having a case against the buyers to enforce the AOS, will his lis penance be slander of title
Overall what’s my best course of action to terminate the agreement? Wvag are my chances in court ? How long does a suit like this take to complete ? What are My options. From what I state above does it seem the sellers have the right and thus would have good chance to win if taken to court?
Can I file a lis pendence before he does on the 4 lots in question so that he cannot file one and I could then be the person who can removed it?
Most Popular Reply
Sounds like you need a real estate attorney not forum advice. Especially if your buyer is ready to take it to court. Looks like you’re going to end up there either way now.