Can a seller back out of contract just because they feel like it?
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Can a seller back out of contract just because they feel like it?
My fiance and I currently find ourselves in the process of buying a short sale apartment. The short sale already has been approved; we have the loan; the inspection and appraisal have been paid for. It’s been great and pretty quick. However, when the tentative closing date of a month from now is mentioned to seller, all of sudden she says that she has plane tickets to go out of the country just prior to that. Realtor has been calling her for the last 2 days to move up the closing date by about a week but she does not answer.
Asked on August 16, 2011 Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
If all contingencies are waived for your purchase of the property and you are able, ready and willing to close escrow, and the seller is now getting "cold feet" to close the deal and is claiming some trip to delay escrow's close, she can go to escrow a good week or so before the slated close to sign the grant deed to you, the final escrow instructions and go over all documents with the escrow officer as part of the sale.
If you really want to close escrow, you need to advise your real estate agent that if the seller refuses to sign the required documents to close escrow, you will consult with a real estate attorney over your legal remedies which could include filing an action for specific performance against the seller to force her to sell the property to you and recording a lis pendens upon it to put any future buyer that there is "litigation pending" over the property.
Good luck.
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