[CA] Seller wants terms changed right before close?

Question

Purchasing a $1MM vacation condo and the Seller noticed that we're splitting the hefty $15,000 HOA Transfer Tax 50:50.  He wants us to pay for all of it.

He just caught this right before the loan docs are being drawn up and after we've waived all our contingencies.  We've been in escrow for almost a month.

What are my options here?  Does the purchase contact dictate that we split the transfer tax?  I still want the property, but I've pretty much given into all the seller demands, so it'd be nice to at least split the Transfer Tax.

Chris Mason · Answer

You tell the seller to F off & remind them that a contract is a contract.

Don't overthink this one... :)

Thomas S. · Answer

Rather than tell him to pound salt I would make a counter offer.

Agree to pay the full closing, assuming you have the money, but counter with a 30K lower purchase price. Firm and final.

Your problem of course is the fact that you want the property for personal reasons. This eliminates the ability for you to negotiate leaving you only with the option to tell the seller the deal is signed and sealed, tough luck for him.

Charlie MacPherson · Answer

Agree completely with the other sentiments here.  Once the three elements of a contract are completed (offer, acceptance and consideration), the contract is binding upon both parties unless there is fraud or one of very few other ways to make a contract voidable.  (i.e., mental infirmary, legal incapacity, mistake, failure to disclose, undue influence, unconscionability, ).

The only other thing I'd add is that if there is something else you want from the deal, you could use this as a bargaining chip.

Otherwise, the seller needs to pull on his big boy pants and get to the closing table.

Upen Patel · Answer

@Petra M. Adding to what is already stated, have your realtor inform the sellers realtor that you will sue for breach of contract and damages if he tries to pull out. All contingencies are removed on both ends, so either of you have the option to walk away.

Petra M. · Answer

@Chris Mason

@Ralph R.

Thanks so much!

Ralph R. · Answer

@Chris Mason @Petra M.  Chris is right.  he's already signed the contract.  next time he will read it first.  once its signed its set in stone.  if you allowed him to amend or change something already he's just trying the waters to see if he can squeeze a little more out of you. Hhe has no leverage its all talk.

RR

[CA] Seller wants terms changed right before close?

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