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  1. #1
    Join Date
    Sep 2004
    Posts
    758

    Default Seller Backing Out

    We've signed a contract to buy a house in CA, our 3% has been cashed. The seller is now trying to back out of the sale, claiming emotional attatchment to the home. Any advise?

  2. #2
    Join Date
    Sep 2004
    Posts
    758

    Default Home Seller Trying To Back Out

    Your remedies will depend upon the terms of the contract you signed. Typically, your remedies would include:

    1. Specific Performance. As real estate is considered unique, you can petition a court to order the seller to complete the sale.

    2. Contract Damages. You would attempt to find an equivalent house, and make a claim for any increased expenses as a result of the loss of the original deal. Proving damages can be problematic, as barring unusual circumstances (e.g., two near-identical houses in the same subdivision) there are significant differences between houses, and the seller can try to attribute a higher purchase price to those differences.

    3. Rescission - the "undoing" of the contract. You receive your money back, and the parties are restored to the position they were in before the contract was signed.

  3. #3
    Join Date
    Sep 2004
    Posts
    758

    Default

    We recently moved from Calif. and know someone that this exact same thing happened to. Get a lawyer. I know that they sued the seller for breach of contract and actually made out okay. They found another home that worked even better for them. Hopefully that will bring some hope to you. Good luck.

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