Home Selling in Murfreesboro>Question Details

lightbehind…, Real Estate Pro in Spring Hill, TN

Can a seller cancel a contract, and if so, what are the ramifications?

Asked by lightbehindmyeyes, Spring Hill, TN Sun Jan 20, 2013

What a mess. I own a home in Murfreesboro. I am newly re-married and moved in with my wife and kids in her rented house in Spring Hill. My Murf. home is on the market as a short sale and we just got an offer on it. There is a signed contract for it to close on Jan 31, but it is still pending bank approval and there is a lien on the home of which I would have to pay before closing. Also, my adult daughter and her boyfriend had moved in "temporarily" following an eviction and they refuse to leave even though I gave them 30 days notice in Aug. They sleep elsewhere but have all their belonging in my home and refuse to get them. Per my contract, everything needs to be removed. I am in the middle of evicting my own daughter but it won't be final until Feb 4th. My housing situation with the place we're renting changed & we want to move into the home we own. The house is near foreclosure & we are close to bankruptcy. Can we cancel the contract so we can save the house & have a place to live?

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Answers

5
Have all your documents that shows that you own that house handy, contact the police department and tell them that you have a person trespassing in your property and you need help. Trespassing is a serious crime that involved both, criminal and civil laws.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomespecialist.com
4 votes Thank Flag Link Mon Jan 21, 2013
Sounds pretty late in the game - I would suggest contacting an attorney on your behalf to talk with your lender in order to resolve. Good Luck!
0 votes Thank Flag Link Mon Jan 21, 2013
Without knowing what you signed with your agent it is hard to give you an answer. If I worked for you as a seller agent I would work out what is best for you. Sorry, but to many agents are dollar motivated and can be hard to deal with when a problem comes up. Best of luck.
0 votes Thank Flag Link Sun Jan 20, 2013
For any legal advice, you would need to consult with an attorney. For contract questions, you need to direct those to your Real Estate Agent.
0 votes Thank Flag Link Sun Jan 20, 2013
If I understand this correctly you are selling your house as a short sale but the bank has not approved the short sale, all the other stuff is pretty irrelevant to the the answer you are looking for. I always get a chuckle when I hear of a closing date being written into a short sale offer. There is just no way to know when they will close, if they ever do. The buyer might be ready and willing to walk away since there is no end in sight, have you asked their agent? If the house is near foreclosure and you are near bankruptcy I don't see how you can save the house. You need to ask the buyers agent if the buyers will back out of the contract and take their earnest money. If that does not work you need to be talking to a lawyer to find what options you have based on what is in the contract you have.
0 votes Thank Flag Link Sun Jan 20, 2013
The investor has not paid any earnest money. I was wondering if the contract will be voided since we cannot legally get my daughter's belongings out by the closing date as stated in the contract. Also, if I choose not to pay the money for the lien by the 31st, would that cancel the contract? I have spoken at length with the loss-mit dept and they are working to get us on a loan modification or a repayment plan; both of those we can afford so we would be able to save the house; it's being sued by the seller and being forced to sell anyway after I've moved my family in that I'm worried about.
Flag Sun Jan 20, 2013
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