Is a seller able to accept my offer then backs out for a cash offer from another buyer with out any?

Asked by Tara, San Diego, CA Sun May 11, 2008

penalties? Can the seller be taken to court?

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7
Catherine Ba…, Agent, Carlsbad, CA
Mon May 12, 2008
Tara,

It really depends on where you are in your contract. As the other realtors below have state, you need to consult your realtor and broker. If you were doing everything contractual in the contract moving along to purchase the home, you might have a case.

I would go over everything with your agent/broker and make sure you had done everything to the california assocation of realtors purchase contract. if you have a copy of the contract, sit down and start reading the contract.

Good Luck! Catherine
0 votes
Bonnie Malon…, Agent, San Diego, CA
Mon May 12, 2008
Depends on your contract and if you have past your contingency period, signed off on all reports. Consult with your realtor as each transaction and sale is unique to the specifications of your contract. Hope this helps.
Web Reference:  http://www.BonnieMaloney.com
0 votes
Pacita Dimac…, Agent, Oakland, CA
Sun May 11, 2008
Presumably, since you're in California, that the agents used the California Association of Realtors purchase agreement form. Refer to Paragraph 14C3 regarding Seller right to cancel.

Depending on where you are on your agreement....are you in escrow, have you released your contingencies, are you late with any of your contractual agreements, has the seller issued a notice to perform, etc.

The first one you should consult is your realtor and his/her broker. They can advise and assist you in whether or not you have a legal case to get the seller to honor your agreement.

Good luck!
0 votes
Michael Barr…, Agent, Irvine, CA
Sun May 11, 2008
Hi there Tara, It would depend on the written contracts. What does your agent or broker say? I would recommend you talk to their attorney if they have one on staff to review your situation.

Hope this helps
Kind Regards
Michael Barron
Realtor
First Team Real Estate
(714) 552-6817
0 votes
Angela Schra…, Agent, Pembroke Pines, FL
Sun May 11, 2008
Hi Tara: The answer to your question depends on whether you have both signed and binding purchase contract, and, of course, the language of that contract. Typically, a contract for the sale and purchase of real estate binds both parties to the transaction. The seller promises to pass clear title to the property, and the buyer promises to pay the agreed-upon price. If you have such a contract, then the seller is not free to renege upon his/her promise, in order to sell to a later arriving buyer who offers more attractive terms. Under that circumstance, the seller would be in default of his/her contractual promises/obligations, and therefore subject to legal recourse. The contract would also define the terms of any potential legal recourse, ranging from specific performance to refund of any good faith deposits.

You should carefully review the terms of any sale documents and/or contracts that have been signed by both parties, and you should contact a local real estate attorney. If, on the other hand, there are no written agreements between you and the seller, then you should be aware that the Statute of Frauds requires that agreements for the sale and purchase of real property must be in writing, and courts will not consider so called parole (or oral) evidence of agreements. In other words, if you and the seller had a verbal agreement for the seller to convey his/her property to you in exchange for $X, you are probably out of luck! The seller has the right to negotiate with additional parties until a legally binding contract has been executed by both parties to the transaction.

Hope this helps!

Angela in sunny South Florida
Villa G Realty, Inc.
Web Reference:  http://www.villagrealty.com
0 votes
Don Tepper, Agent, Burke, VA
Sun May 11, 2008
Check with an attorney. I'm not an attorney, so this isn't legal advice.

It may depend, in part, on the contingencies (if any) contained in your offer. Was your offer contingent on financing? If so (and I don't know how San Diego contracts are written), it's possible that with your contingency still in place the seller had the ability to accept an offer without the contingency.

It really all comes down to the contract. And to interpret that, you'll need a lawyer.

Good luck.
0 votes
Roberta Murp…, Agent, Carlsbad, CA
Sun May 11, 2008
Tara,

You have legal remedies available to you if a seller backs out of a valid and signed contract. I would first have a competent real estate professional look over your offer to make sure everything is in place. If so, I would contact a real estate attorney to pursue your best interests.

"Specific Performance" is the buzzword in this situation.

Good luck!
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