Home Buying in Spokane>Question Details

Nicky, Both Buyer and Seller in Spokane, WA

Can i reject an offer after legally accepting it? What advantages do my buyers have if things were to go to court?

Asked by Nicky, Spokane, WA Tue May 22, 2012

We accepted an offer but did not find another house to buy so we decided to stay in our house. The buyers are threatening to take this to court

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7
As you well know, anyone can file a lawsuit against anyone else for anything, anytime.
It will depend on exactly what your contract with the buyer states.
You need to consult an attorney in the present state as you have presented them. My guess is they could take you to court to recoup the money they have spent. The question is, how much will it cost them to recoup the amount of money they have spent.
I don't think they can force you sot sell, but they can "take this to court"
If you decide to sell in the future, I can navigate you throughout the process so you do not find yourself in a similar situation.
Good luck,
DAVE
"Schmoe Know Homes"
(509) 499-6989
0 votes Thank Flag Link Tue May 22, 2012
NIcky,
It will come down to what your contract says or doesn't say. In most cases, the buyer has multiple out clauses for inspections, due diligence, financing, just to name a few. Rarely have I seen a contract that contains an out clause for a seller.
No matter what anyone here says, have your contract reviewed by an attorney and then consider your options.
0 votes Thank Flag Link Tue May 22, 2012
I am not a lawyer and therefore not giving any legal advice but I am not aware of any advantages you would have if things were to go to court. I am assuming that this was a for sale by owner and you must not have been aware of being able to make the sale contingent upon you finding another home. Have you only been looking at other for sale by owners or have you been working with a realtor? There are alot of good buys on the market right now and if I were you I would really try to work with the buyer and find yourself a good agent to find a home. I am sure the buyer has already paid for an inspection and an appraisal that they are out of now as well as perhaps giving notice if they were renters and emotionally moving theirselves into the home.

Kathy
0 votes Thank Flag Link Tue May 22, 2012
If you are fighting this, you need to take the advice of an attorney. If I were you, I would try to work with the buyers & see if they are willing to wait until you find a house. If not, you might want to pay them to sign off. But again, you will need something drawn up to release you from selling it. Good luck to you & be careful since buyers have most of the rights in purchases.

Jirius Isaac
Web Reference: http://tristarfinance.com
0 votes Thank Flag Link Tue May 22, 2012
If you signed a purchase agreement which did not have the contingency that your acceptance would be based on you being able to find another home, then you could be liable for any expenses that the buyers have incurred.

You signed a legally binding contract which the buyers then took to mean they should spend money on appraisals, inspections, moving expenses, etc. By attempting to reject the contract, you could be liable for their damages.
0 votes Thank Flag Link Tue May 22, 2012
For any necessary legal advice do consult with an attorney who specializes in real estate especially if a contract is in place.....
0 votes Thank Flag Link Tue May 22, 2012
See a lawyer.

You should have made the sale of your current house contingent upon finding an acceptable property to purchase. That's fairly standard. I'm guessing, therefore, that you probably didn't have a Realtor representing you.

I'm not a lawyer, so this isn't legal advice. However, contracts are contracts. You agreed to sell. If there was no "finding a home of choice" contingency, then you're in violation of the contract. And so not only can the would-be buyers sue, but they're likely to win.

On the flip side, it's nearly impossible to force someone to sell a home. But you might find it a very expensive and uncomfortable process.

See a lawyer.
0 votes Thank Flag Link Tue May 22, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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