Results 1 to 2 of 2
  1. #1
    Join Date
    Aug 2010
    Posts
    6

    Default Seller Breaching Contract

    My question involves real estate located in the State of: WV

    I recently made an offer on a house, and the offer was accepted by the seller. We entered a legal contract through the real estate broker, and I started the process for loan application, inspection etc. Now, that everything is in place, the seller is requesting an extension on the date of closing, because of some complications with the own home buying. I am not in a position to agree to this extension, as my rate lock expires on the day of closing, and moreover, I have already hired contractors to start work within a week of closing, on updates on the house. I tried to politely relate my own situation to the agent, and denied the request for an extension on the closing. The seller is now very upset and is threatening to take the house off the market. Legally, they would be breaching the contract, and also, this would make me incur serious damages on payments that I have already made or scheduled, and moreover, the amount of time and stress that I have undergone is also to be accounted for. What should I do? The agent seems to be representing the seller, and is not being too cooperative with me. I am really frustrated, as my wife and I are in a bind now, because we have already started to make arrangements to put our own house on the market and make necessary updates and arrangements for the same.

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Seller Breaching Contract

    What should I do?
    what do you want to do?

    You cannot physically make him sign the deed. So, should the seller continue to stall, you have a couple choices:

    consider the contract breached (at least after the termination date) and demand your earnest money returned (and incurred costs would not be out of line); Negotiate some sort of agreement; plan on suing the seller for specific performance plus damages.

    1. Sponsored Links
       

Similar Threads

  1. Taking New Work After Breaching a Contract
    By docarthur99 in forum Independent Contractors
    Replies: 1
    Last Post: 07-01-2011, 08:59 AM
  2. Purchase Contracts: Seller Trying to Back Out of Contract
    By USNAVYMIKE in forum Buying, Selling and Conveying Real Estate
    Replies: 6
    Last Post: 08-12-2009, 06:31 AM
  3. Resignation: Breaching the Employment Contract Signed Friday
    By subtodhanam in forum Employment and Labor
    Replies: 1
    Last Post: 10-12-2008, 02:53 PM
  4. Purchase Contracts: Getting Out of Seller Contract
    By tryptamine in forum Buying, Selling and Conveying Real Estate
    Replies: 4
    Last Post: 08-24-2007, 03:14 AM
  5. Purchase Contracts: Seller wants to back out of contract
    By Celeste in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 02-15-2006, 02:01 PM
 
 
Sponsored Links

Legal Help, Information and Resources