Home Selling in 92562>Question Details

Monika Lindq…, Home Buyer in Phil L Hudson Airport,...

What happens after I -the seller- demand to close?

Asked by Monika Lindqvist, Phil L Hudson Airport, Mesquite, TX Sat Aug 17, 2013

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The seller can send a notice to perform, my suggestion is to have both parties work it out before emotion get in the way and everyone not getting along.
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0 votes Thank Flag Link Fri Nov 22, 2013
Hi Monica - Will you give us a little more info about your situation?
0 votes Thank Flag Link Sun Aug 18, 2013
When seller sends buyer a notice to perform such as demand to close they are giving buyer a set amount of time to perform otherwise seller can cancel the transaction. However, by sending buyer a notice to perform you are releasing the buyer's deposit and seller has no claim to it. Best thing to do is for all parties to work together to come to some mutually agreeable terms.
0 votes Thank Flag Link Sun Aug 18, 2013
Assuming that you are in escrow. You can send a notice to perform with a time frame. If buyer does not perform, you then cancel that escrow and the buyer's deposit could become yours. Or, released back to buyer. Hopefully your agent will have a back up offer that you can go to and start the process again. Check with your attorney to understand your real estate laws in Texas as law is different in each state.
PS. I'm a little confused as to why a home buyer is asking a seller oriented question. Email me to explain if you will at Michael.Garcia3367@yahoo.com
0 votes Thank Flag Link Sat Aug 17, 2013
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