ASAP! We are 1 week from closing on a house as buyers, and the seller wants to back out.

Asked by D Steves, Mesa, AZ Thu Apr 19, 2012

We have a contract to close April 26th and the seller today says he is not signing the paperwork and is not moving. It is a short sale on a reverse mortgage in the sellers wife name(who passed in August), he is quit claimed on the deed but the home is so unbelievable upside down he wont be able to finance it on his own. So we went thru the long process of waiting on the bank and we got our letter and went thru EVERYTHING we are due to sign paperwork tomorrow at title and his realtor says "He is not signing paperwork he is not moving" What can we do?

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9
Brad Bergami…, Agent, Prescott, AZ
Mon Apr 23, 2012
You can't make a Buyer Buy or a Seller Sell.
Look through your contract. See what recourse you might have later.
If it is a short sale, that was the risk you took.
Best of luck.
0 votes
J, Agent, Greensboro, NC
Fri Apr 20, 2012
Hmmm...hold it or fold it. I vote to fold it on this one. Good luck to you!
0 votes
Don Tepper, Agent, Burke, VA
Fri Apr 20, 2012
Not much, frankly. It's his choice to sign or not sign.

Wait for it to be foreclosed upon. Then buy it from the bank.
0 votes
Cathy Waz, Agent, Mesa, AZ
Thu Apr 19, 2012
This is a difficult situation and without knowing the details and seeing the paperwork it is hard to say if he has a legal loop hole to back out. Even if he does not have a legal right to back out, you can't force him to sign papers without hiring an attorney and suing for specific performance. it would take so long and cost so much that depending on the price of the home probably would not be worth it.

Are you working with a Realtor?
0 votes
Brenda & Ron…, Agent, Mesa, AZ
Thu Apr 19, 2012
Hopefully you have an agent representing you that can help you with this. He/she should be talking to the other agent about the seller being in a legally binding agreement. Do you have the acceptance notice that the bank agreed to the short sale? Without bank approval the seller doesn't have to sell. Discuss talking to a Real Estate Attorney with your agent and have your agent express to the seller's agent that you intend to follow this through.

Brenda

Ron & Brenda Cunningham
West USA Realty
602-980-3133
Ron 602-499-0694
http://www.CunninghamHomesAZ.com
****Recognized in the Phoenix Business Journal as "One of the Top 50 Realtors in the Valley" ****
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Apr 19, 2012
At this point it may be in your best interest to consult with an attorney who specializes in real estate; have all realted paperwork reviewed, see exactly what options you may have and go from there....
0 votes
Doug McVinua, Agent, Gilbert, AZ
Thu Apr 19, 2012
Reach out to your agent (hope you have one), discuss, review the paperwork and look into getting an attorney if your agent and or broker can't help you out.

Is the paperwork in order?

Continue to take actions towards closing.
0 votes
D Steves, Home Buyer, Mesa, AZ
Thu Apr 19, 2012
Our realtor wants to try pleading and see if he will sign papers. We have a signed contract and addendum that he signed.
0 votes
Carlos Ramir…, Agent, Mesa, AZ
Thu Apr 19, 2012
What is your Realtor telling you? If you decided to go unrepresented you are going to have to hire a lawyer for advice now. What you can do will depend on many factors, including what documents you have signed. Short sales can be extremely difficult, time consuming and frustrating.
0 votes
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