Rental Property Investor · Santa Rosa, CA · Member since 2013 · 38 posts · 4 votes
I HAVE A PROPERTY UNDER CONTRACT STARTED ESCROW AND NOW THE SELLER SAID BROTHER WANTS HOUSE AND IT SEEMS LIKE SHE MIGHT BE TRYING TO BACK OUT OF CONTRACT MY QUESTION IS DOES SHE LEGALLY HAVE A RIGHT TO DO SO OR CAN I ENFORCE THE CONTRACT?
Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
12y
How bad do you want it?
I always file a memorandum of sale or an affidavit with the courthouse, that I'm under contract to purchase a certain property. That clouds the title and makes it impossible for them to sell to someone else with clear title.
The 2 times where I had sellers backing out, I sued them for performance. There was a lot of profit involved and I was just stubborn ;-). The first one I used an attorney and it took us a while. We got it on summary judgment, when the seller didn't respond to the court. The seller finally came to closing and she had to pay for all the attorney fees.
The 2nd one I filed my own lawsuit, following the pattern of the first one. He caved and came to closing without any further legal action.
If it's just something that would get you a few $, then I would file an affidavit and sit back and see what happens.
Rental Property Investor · Santa Rosa, CA · Member since 2013 · 38 posts · 4 votes
12y
thanks everyone for all the great advice I really appreciate it .
so the property is not currently occupied
its trashed and apparently now the brother now wants it probably to flip for himself.
it needs like 60,000-75,000 in repairs
I think I will just see if I can get her to move forward to close if not, try to get damages I was looking at about $18,000 as an assignment fee so what would be a reasonable number to get for her backing out?
thanks everyone for all the great advice I really appreciate it .
so the property is not currently occupied
its trashed and apparently now the brother now wants it probably to flip for himself.
it needs like 60,000-75,000 in repairs
I think I will just see if I can get her to move forward to close if not, try to get damages I was looking at about $18,000 as an assignment fee so what would be a reasonable number to get for her backing out?
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Adding to my opinion, if you are not a willing and able buyer, forget damages if you can't talk them out of something, if it's found you made a contract on that you can't perform on, they won't look kindly on you IMO.
K. Thanks for the site, still don't know if that was an owner occupied.
I imagine anything is possible, but that is an old saying for a reason, you can't make them sell but you can make them wish they had, I didn't make that up, it's been around way before ..... well, for a long time, decades! :)