David A. Conforti, Esq., C.P.A.
DC Living Real Estate
The title company discovered on the date of closing that taxes couldn't be collected from seller, and he either had to get a proper SSN /tax ID or have me (buyer) withhold it. The seller promised to pursue the official channel immediately and I guess we were just trying to be understanding. Seller clarified a few things with his legal counsel and finally agreed to make another trip to the US (he resides abroad, which i found much too late) late November/december and file the appropriate paperwork, and expected that to take 2-3 weeks. From the initial scheduled closing in September, it did not sound too long, so we agreed. Since mid-december, we haven't heard from them, so NOW we are considering other options.
not saying it was a prudent thing to do, just what happened.
as you state, you could perhaps have a lien of sorts so when/if he does sell..you would be able to buy. So..what to do in the meantime? I doubt you will sit around and wait..and perhaps if you go ahead and pursue something else..then you hopefully would have the resources to go back to plan A.
Most people however, do not have the resources and are acting on principal. So with that said, you may best be served by punting.
Again, I reiterate...you should have NEVER gotten to this point. Proper representation etc. typically would preclude nonsense like this. In addition, if this happened...you should have been advised to seek legal counsel IMMEDIATELY..not 3 months later.
Sorry to be so blunt..but I have always found it best to shoot straight.
Best of luck..
Erik J. Weisskopf, ABR,CDPE,CRS,GRI
Re/Max Distinctive Real Estate, Inc.
It is hard to hear, but you can't make the seller sell you the property if he/she doesn't want to. If they want to hold the house, your only option is to sue for specific performance. If they don't want the house, it may be worth offering more than your original contract price and make it a win-win.
http://www.beankinney.com/timothy-r-hughes.php. Check your contract terms in regards to the costs of litigation. Most contracts award attorneys fees to the prevailing party. At the very least have a phone consultation with Tim. Act quickly.
My realtor's suggestion is to contact a real-estate attorney (and i think i am about to do that), but wanted to get other's opinions as well. I think the biggest complication (in my opinion) is that i still want the property versus just suing for performance and obtaining some money. Also, since the seller isn't a citizen, i figured there would be no real way of collecting in case of lack of response from seller (have seen enough of that). Our (my realtor and me) thought that we are trying to confirm with legal counsel is to see if we can place something analogous to a 'lien' on the property so that seller HAS to sell it to me at this price (whenever that happens).
Also, is there typically an 'expiry' on a contract beyond which it automatically becomes void?
Thanks for the input.
Have you talked to your Realtor on this? and what does he/she say. Your real estate agent can also call an attorney they work with to find legal answers for you. If you are not being represented by a buyer's agent please feel free to give me a call or email me directly and I will happy to sit with you to discuss your situation in details and help you with your real estate questions and needs.
Faiza Alvi - RealtorÂ®
Prince William Realty, Inc.
MILLION DOLLAR CLUB - PWAR 2011
Real Estate is about building relationships
& serving clients with honesty, integrity & passion.
You have a Realtor representing you right?
What does your Realtor say?
Personally, I think it is ridiculous you have gotten to this point. My guess is your legal options are to sue the seller for "specific performance"..this is threatened often but rarely done. My other guess (I say guess because I am not an attorney and am not giving out legal advice) is that you will have to prove some loss. This is typically the difficult part.
My last guess is.. perhaps you would not care as much other than the fact the value in your opinion has gone up 15%. My suggestion would be to spend a few dollars with a good real estate attorney. If you need one..contact me.
As I always try to ask on these posts...is for you to provide some answers to the questions..so others can more easily answer your questions.
have a great day and best of luck.
Erik J. Weisskopf,ABR,CDPE,CRS,GRI
Re/Max Distinctive Real Estate