Our closing is set for one one week from today. Can buyers win a specific peformance lawsuit, when we have met 100% of the contact's terms. There have been no amendments or extensions requested by buyer. They cannot obtain VA loan approval without specific repairs which are not, and have never been, including in the executed contract. Buyers have never submitted request for extension of time to resolve issues. They are ready to make repairs themselves prior to closing. We will not allow this. It's a matter of EXTREME personal principle. They have lied to us, attempted to maniuplate this into a "garage sale" purchase, misrepresented and withheld facts from us (and so has our own realtor, in order to "get the deal done quickly". Guess he's not making enough commission.
A contract is a license to sue. What happens when a judge or jury hears the evidence is always somewhat of a mystery. In other words, the result is not always preordained and even an "ironclad" contract can be interpreted in ways you don't expect. For example, you may find a judge who decides that the buyer did not materially breach the contract, and hold for the buyer.
You may consider agreeing to an extension with the buyer providing some value or consideration for the additional time. In this case, you hold some important cards, and should use them to your advantage. For example, you could agree to the buyer performing repairs with a short extension, provided that if the buyer did not close on time, the repairs became your property.
Since you live in the Dallas area, you may wish to take advantage of my free hour of consultation for new clients. If you call for an appointment, please bring copies of all of your pertinent paperwork.
People threaten suits all the time, and some of them actually file suit, even if they don't have a sound basis for it. Some of those will lose, and some will win.
Unfortunately, no one can give you an opinion the likelihood of your buyer winning a suit without seeing the contract and knowing more details about the facts. I suspect that at some point, you may need to make a decision about how much you're willing to spend defending your extreme personal principles.
Honestly, it sounds like your extreme principle is a problem. Let the buyer make the repairs and close on the sale.
I am licensed only in Texas. Offering information of a general nature in response to a question is not intended to be legal advice in your state.
When you decide to teach everyone else a lesson, you usually wind up paying their tuition.
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