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Updated over 5 years ago on . Most recent reply

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Mahmoud Y. Elhalawany
  • Real Estate Consultant
  • Raleigh-Durham NC
34
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The assignee backed out of the deal but won't sign paperwork

Mahmoud Y. Elhalawany
  • Real Estate Consultant
  • Raleigh-Durham NC
Posted

We assigned a contract to a buyer who backed out of a deal and now we have a new buyer lined up. Unfortunately the old assignee is being difficult, our attorney can't give us legal advice because technically now she is his client as well. I need this woman to send in an informal letter stating that she is in fact terminating the contract, but as I said earlier she is being difficult. If this deal falls through as a result I am going to seek legal action against her. What should I do?

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Chris Martin
  • Investor
  • Willow Spring, NC
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Chris Martin
  • Investor
  • Willow Spring, NC
Replied
Originally posted by @Mahmoud Y. Elhalawany:

We assigned a contract to a buyer who backed out of a deal and now we have a new buyer lined up. Unfortunately the old assignee is being difficult, our attorney can't give us legal advice because technically now she is his client as well. I need this woman to send in an informal letter stating that she is in fact terminating the contract, but as I said earlier she is being difficult. If this deal falls through as a result I am going to seek legal action against her. What should I do?

I have no idea what your contract assignment looks like and what material conditions, like contract execution and financial consideration, are included or not included in the contract. But from what I see posted, you have created a precondition that places your legal counsel into a poor position of conflicting client (your) interest. 

I am not a lawyer. I don't and can't give legal advice. Nothing I say has legal merit and what I post is not legal opinion. But from what I see posted, if I were in this position I would find new legal representation. 

The scenario you paint in your post is the exact scenario that my lawyers are paid to avoid. Again, I don't know the specifics of your assignment contract, but it seems like whoever drafted the specific terms and performance agreements didn't do a good job. Just my non-binding, layman's opinion. 

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