I am a realtor and I brought a buyer to a sellers realtor, we are five days away from the closing and the seller decided he does not want to move, plain and simple and he says nothing is going to make him change his mind. few days away from closing and sellers agent wants us to find another property, and we do not get reimbursement for expenses only the escrow amount which thanks it was placed at an title company.
we want to sue for specific performance, which was the seller to sell, the contract is not contingent to nothing even the appraisal of the property came back just with enough money to cover the loan amount (offer was 149900.00 and appraised for 150000.00) what is the buyer's right and what can they do because they want the property .
The buyer will need to consult with a good local real estate attorney to review the contract for any limitations; but generally yes, "specific performance" is a viable equitable remedy available to a buyer of real property when the seller refuses to perform.
And - whatever the buyer does, he or she should NOT listen to a real estate "agent" with respect to his legal remedies, the agent hasn't got a clue, and in fact should NOT be talking "law" at all! (and I can say that b/c I am not only a Board Certified Real Estate Attorney - but also a licensed Florida Real Estate BROKER for over 30 years).
Hope this helps.
This communication is not intended in any way to establish an attorney-client relationship, nor provide legal advice; it is submitted by its author simply as a general comment on the facts contained in the Question posed. NOTE: This attorney contributor is NOT actively seeking new clients.
First, it is up to the purchaser take action to enforce the contract. Depending on the contract, specific performance is likely the remedy.. And if the purchaser wins, they get attorney's fees which can be offset against the purchase price.
You can sue the seller for commission. You have no obligation to find another property for your client. Depending on the selling broker's listing agreement, it is likely that in such a suit you would also get attorney's fees.
With all that said, litigation is a long term and expensive option. Obviously, you should consult with a real estate litigator to evaluate the options. But you may chose to forego it and just find another property.
I know the situation is aggravating. Let your head, not your emotions govern your actions after you've gotten the legal advice you need.
Best of luck.
This answer is provided for informational purposes only, does not constitute legal advice, and does not create an attorney-client relationship. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.
The buyer (not the buyer's broker) has a right to sue for specific performance, and from the facts you posted, the buyer is likely to win and may be reimbursed for attorney fees. However, specific performance is not usually a viable option in residential closings. Such a suit will take a year or longer to complete. Very few buyers are so in love with a house that they are willing to wait that long and to front $20,000 in attorney's fees to get it. Your buyer is probably better served by looking for a new house.
Disclaimer: This answer is provided for informational purposes only, does not constitute legal advice, and does not create an attorney-client relationship. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.
Specific Performance would be the remedy. It can be a viable option as well. It depends on the Seller's motivation as well. Regardless, the title will be clouded while any action for specific performance is pending, so the Seller will be hindered in trying to sell the property to anyone else until the matter is resolved. Have the buyer speak with a real estate attorney to evaluate his options.
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