Home Buying in Little Falls>Question Details

Linda, Home Buyer in Little Falls, MN

after several closing date changes (made to accomodate the seller) and having a totally no contingent closing date set and signed by both parties,

Asked by Linda, Little Falls, MN Sun Jul 25, 2010

now the seller has requested we withdraw our purchase agreement and does not want to sell their property. we have several months and lots of time invested in waiting for this home. since it says on the form this is a legal and binding agreement, what is our recourse. can they be forced to sign and vacate by our closing date of aug 27th? we are in minnesota

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4
Oy, Linda! You poor kid. This is NOT how it's supposed to go. But, we've been in a carnival crazy house of real estate for several years now. Many transactions are working out fine, but too many are not. My colleagues here are correct. You do have recourse, but they may have adverse consequences for you, too. PLEASE check with all of the professionals in your circle (agent, attorney, etc.) to see what your alternatives are. That way, YOU will be able to make an informed choice about what's best for you.

Good luck!
0 votes Thank Flag Link Mon Jul 26, 2010
Talk to your Realtor, and an attorney. You may have recourse, but sometimes it may be less of a hassle, and cheaper to move on.
0 votes Thank Flag Link Mon Jul 26, 2010
Cameron is correct. You do have legal options but there is a lot to this and only your agent and an attorney can provide you with the proper advice.
0 votes Thank Flag Link Sun Jul 25, 2010
Linda,

At face value it would seem that the seller is backing out of the transaction and that you might be able to pursue what you are talking about (called specific performance). However, nothing in a real estate transaction is as it seems. My strong suggestion is to listed to the advice of your realtor and to involve an attorney who specializes in real estate law. Their advice will be invaluable as you move ahead.

Cameron Piper
Web Reference: http://www.campiper.com
0 votes Thank Flag Link Sun Jul 25, 2010
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