Skip to main content

Can I sue a seller of property for backing out a couple of days before closing?

Myrtle Beach, SC |

We have a contract on a property in Myrtle Beach SC. A couple of days before closing the seller's agent told us that they were refusing to pay half of an elevator assessment that we specifically called out in contract. Because of this we did not close. Also, we learned that there were false disclosures where the owner told us that they occupied the property and they actually rent it out and have a contract with a management company. I myrtle beach, the law requires that new owners honor leases and management contracts for 90 days which also would have kept us from taking possession of the property and living in it like we wanted. Can we sue to either reclaim all money spent on closing? Can we sue both the realtor and seller for disclosure fraud? Realtor knew disclosures were wrong.

Attorney Answers 2

Posted

You need to review your contract to see your remedies for this situation. Some contracts provide that a party will be liable for certain costs if a sale is not closed, so you may be able to recover your closing costs.

Mark as helpful

1 found this helpful

1 lawyer agrees

Posted

You can probably sue. Even if you decide to go to small claims court where you can sue for up to $7,500, it probably wouldn't hurt to at least have a consultation with a real estate litigation or general practice attorney to review your contract, any addendums, and the seller's property disclosure and give you some pointers before going to court.

The foregoing is for general information purposes and does not establish an attorney-client relationship.

Mark as helpful

1 found this helpful

1 lawyer agrees

3 comments

Asker

Posted

is it possible to force the seller to honor the contract?

Thomas C. Nelson

Thomas C. Nelson

Posted

In some situations, yes. The name of the claim in court is "specific performance." I would expect you need at least an hour consultation with an attorney familiar with this area of law to get a better idea of where you stand.

Asker

Posted

Do you do this type of work or can you refer someone? I would like to initially have a demand letter sent asking for seller to sell the property or reimburse all costs associated with closing this property plus maybe a little extra for lying on disclosures. I'm not sure how much leverage knowing he lied on disclosures gets us. Really, I'd just like to scare him into selling the property, maybe at a little better price for the hassle.

Litigation topics

Top tips from attorneys

What others are asking

Can't find what you're looking for?

Post a free question on our public forum.

Ask a Question

- or -

Search for lawyers by reviews and ratings.

Find a Lawyer

Browse all legal topics