Home Selling in Morgan Hill>Question Details

kmmassage4he…, Home Seller in Morgan Hill, CA

Thanks skip, What are the exact procedures to follow when someone doesn't perform in real estate deal, before cancelling escrow?

Asked by kmmassage4health, Morgan Hill, CA Sun Mar 31, 2013

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Your purchase contract states what the procedure is. If you are using the C.A.R. contract , Revised 4/10 , page 5 of 8, 14. C 1, SELLER RIGHT TO CANCEL. Read this paragraph. The seller shall deliver a notice to perform to the buyer.

The EXACT procedure will be based on the terms written in your contract and where everything is at this point of the transaction. Your agent should be discussing with you your options.

All the best to you.
Web Reference: http://www.terrivellios.com
1 vote Thank Flag Link Sun Mar 31, 2013
Hi KM,

So sorry to hear that you are still dealing with this problem.

If the broker is not providing you with information, it is time to get a real estate attorney involved to get this done. Yes you can cancel the deal, and since the buyers have removed all of the contingencies, you need only to request that they cloae. You can give them a deadline, and if they fail to perform, you can cancel the contract. I would strongly suggest that, if you do have to list your home again, you refrain from using the same brokerage again, since, as you mentioned in a previous question, the agent may have failed to provide you with adequate re Rae ration and advice in th sale of your home.

So talk to your broker and get the notices delivered to the buyers right away. Having to wait more than two months to close an escrow in a market such as we are experiencing today is unjustified.

Good luck!
0 votes Thank Flag Link Mon Apr 1, 2013
Terri is correct in that the answer is in your contract. She is also correct in stating that the exact procedure will depend upon whether or not the buyer has removed all contingencies. There could be a number of steps including a notice to perform, a demand to close escrow and a cancellation. As Terri stated, it is best to get with your broker and decide what needs to be done. Remember this, the dates and timeframes in the contract are "passive dates". They require action on your part if the buyer does not do what they are required to do. The buyer will then have time to cure the problem.
Good luck,
0 votes Thank Flag Link Sun Mar 31, 2013
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