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Updated over 7 years ago on .
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Seller Raising Price After Signing Purchase Agreement
Agreed to buy two properties from a Turn-Key / property management company. Signed purchase agreement knowing that they intended to double close with another investor who was liquidating their portfolio. At the first closing back taxes were discovered and the original seller did not want to bring money to the table. The company I'm buying from agreed to a higher price at the first closing to cover the taxes and subsequently closed. Then they email me, tell me about the tax issue and raise the price by 5k on each property. I have the original purchase agreements with no contingencies on either side. Do I have any legal recourse here? We've passed the original closing date and have not signed another agreement. State is TN, cash deal. Thanks!
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Send them a copy of your contract with the price highlighted and cc the title company on it.
- Russell Brazil
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