Home Selling in Novato>Question Details

Jeanblnch, Home Buyer in Duluth, MN

buyer is asking that i go forward with a sale even though i canceled agrement

Asked by Jeanblnch, Duluth, MN Fri Aug 17, 2012

4 items the buyer asked to be corrected- did not sign I signed a cancellation of purchase order within 4 days
buyer added an addendum changing the purchase price because the appraised price was less than the offer but had thme paying more of theeir closing costs 9which I had orignally agrred to pay all of their costs) to make the offer the same- again i did not sign
now they want to proceed and say i breached the contract.

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Answers

11
It is hard to follow but it seems they changed their offer after the appraisel. so basically no contract at this time
1 vote Thank Flag Link Fri Aug 17, 2012
You to contact your real estate attorney for assistance. If you did not have one to begin with find one now and explain your situation. A good attorney is worth their weight in gold. Especially when issues arise.

All the best,

Gary Geer

http://www.ggeer.illinoisproperty.com
0 votes Thank Flag Link Wed Nov 21, 2012
The best resource when it comes to contracts is an attorney. I know, everyone dislikes the lawyers but here is a very important piece of information you don't want to forget. A real estate agent is not a contract lawyer no matter what you have been told. Many times, the problems that come up between buyers and sellers that involve interpretations of the offer and accepted contract are due to the inability of the agents to properly understand and write good offers.

A offer is basically a fill-in-the-blank form. Just look at it. There are some spaces to check, some initials and lots of boilerplate language. There is no "writing" going on there. If you've made more than one offer in your life, compare them and you'll see that most times the only thing that changed were some dates, some amounts in accordance with the offer price and the address and names of those involved. Everything else was probably the same or close to it.

The problem with having a real estate agent interpret contract language is that they are unqualified nor equipped to do so and relying upon information like that can lead to serious problems, legally.

If you ever try to get some accountability for interpreting a house purchase contract guess what? No agent is going to stand up and take that responsibility. An attorney is legally and ethically bound to provide legal interpretations of contact language so spend the few hundred dollars to get it. At the same time, they can write a letter on your behalf, documenting that interpretation and give you the foundation you need should the other party continue to pursue some action. No real estate agent will do that because they can't, legally or otherwise.

Your real estate agent would get many thousands of dollars. Spend a few hundred for accurate and reliable contract interpretation. Relying on an agent to interpret a real estate purchase contract is one of the biggest mistakes you can make.
0 votes Thank Flag Link Wed Nov 21, 2012
Real Estate is frustrating and things pop up that were not planned. Buyers can get scared when there are cost they can't afford or didn't know they had to deal with.

Your agent is your best resource as he/she is familiar with the terms of your contract and laws of your state. Buyers can always ask for things and if both parties don't agree to it then the terms have not changed. Just because you said no should not mean the contract is cancelled. Unless the buyer is not performing and out of their time lines and then there should be measures within in the contract as to what rights you have as a seller.

If the Buyer still wants to buy find a solution which is win win for both of you and you all will be happy.

Have an amazing day.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Wed Oct 17, 2012
Take the Bull by the Horns. You can do this without legal assistance, but you may want to have your agent or your agent's manager help you. After all, they would be named in any complaint as well, so it is their neck on the line too.
First of all, read the words in the contract... all of them. Then, read the words in the request of you to make changes... all of them. Then, read the words in the cancellations you did... all of them. See what they said, match them to the time frames. and quote them to the buyer and buyers agent through your agent IN WRITING. If it is there in black and white that you conformed, then your communication should make it clear.
If they decide to try to assert breach of contract, then they will have to either go to Mediation or Arbitration or see an attorney and show them your letter. If your letter documented the events and you conformed to the words and actions and time frames in the agreements, a mediator or arbitrator or attorney will immediately see that the buyers have no position to support with their allegations and advise them as such.
You can also assert in your communication about the black and white that if they continue to persue YOU for breach of contract, you will persue THEM for bringing a "Frivolous Lawsuit" and that can mean they have to pay you for your expenses and damages.
0 votes Thank Flag Link Wed Oct 17, 2012
If you want to sell the home but are frustrated with the buyer's requests, simply have your Realtor put together an addendum that states the only terms at which you will sell. If that means you are only willing to sell at the original contract price and that the buyer needs to make up the difference resulting from the lower appraisal or you are not willing to do repairs, etc. – put it in writing in an Addendum along with dialogue such as, “These terms are final and are not subject to negotiation.”

If the buyer is unwilling to fulfill those terms, then it will be the buyer cancelling, not you. If they agree to your terms, then you can proceed because you will have what you want.
0 votes Thank Flag Link Fri Aug 17, 2012
thanks it was a little complicated sorry about that. i know the buys really want the house but the nickel and diming was driving me crazy. so after they asked for even more i just said no- and yes i am able to cancel tthe agrement as I did not sign the addendum to the purchase agreement agreeing to repair items found ruing inspection nor did i sign the addendum with a differnt price.
thanks for your import. just gets a little crazy for both ends
0 votes Thank Flag Link Fri Aug 17, 2012
Jean,
Consult with your real estate professional.
Following the sequence of events from the information in your question is inadequate to receive an actionable response.

There may be several options available. That's why you hired a pro. Don't second guess your agent with stuff coming from aggregate websites. Take a deep breath, decide if you still want to sell your home, then work with your agent to achieve the outcome you expect.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Fri Aug 17, 2012
It isn't really clear what happened here and I'm not an attorney, but it doesn't sound like you would be compelled to go through with this. Additionally, if it ever went to legal action my understanding is that judges almost never rule for specific performance for sellers (force them to sell).

What does your agent/broker say?

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Fri Aug 17, 2012
Two questions:
Do you still want the house?
Can you settle your differences?

If you say YES,
I would suggest submitting a NEW OFFER, giving all your TERMS and an ADDENDUM that covers you both for past transgressions.

Why isn't your Realtor involved in this, keeping you out of trouble?
0 votes Thank Flag Link Fri Aug 17, 2012
I think it's the seller writing this question, not the buyer ...
Flag Fri Aug 17, 2012
I'm not sure exactly why you are cancelling the contract - can you be more specific?
0 votes Thank Flag Link Fri Aug 17, 2012
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