what can you do when the seller of a home backs out after you have a verbal agreement on the sale?
353989
Consult a reputable real estate attourney to find out...
848951
Here are my two absolute rules for the first offer: \n\nOne, I want to know what the seller paid, when they paid it, and get an estimate of what they currently owe on it. This information is available from examination of the Land Records in most of the US, but may not be where you are.  Taking that information, I calculate what I think is their "walk away price", meaning that if they accepted, they'd leave the closing table with nothing at all. You have to add the mortgage payoff to their expected closing costs, like realtor fees, transfer taxes, etc. \n\nTwo, I don't WANT the seller to accept my first offer.  If they do, I know I offered too much. \n\nYou can offer the 120, and they either accept or counteroffer. If they counteroffer at say 140, and you say no, they cannot hold you to the 120. That offer has been rejected.   If you're willing to pay 120, offer it (or less), and if they say "no", you're not out anything.
121608
My Father in Law is a very successful real estate broker, and he says "A verbal agreement isn't worth the paper it's printed on".\n\nWhen nothing is in writing, you have very little chance of winning a battle in court.\n\nYes, you can sue anyone for anything, but what's the point if you can't win.  It will cost you a fortune.
465234
Yes. Just give your agent written notice that you'd like to cancel the contract. No agent in their right mind will hold you to that contract because the bad publicity will cost them way more than the 3% they make off of one sale. \n\nJust make sure you're doing it because you don't want to sell. Not because you think you've found a buyer and want to skirt the commission. Then you're looking at a possible lawsuit. \n\nPlus, most of the work the agent does comes after the contract is accepted and before closing. So you'd be on your own with all that and most likely screw something up.
887531
Probably best to tell the broker you are putting the sale on hold so that he does not keep spending money in advertising. He will probably work with you if you tell him you will give him first shot at the listing when you do decide to sell. if he is difficult you could see what you agreement says..you probably could just tell the broker you are going let the listing run it's course but unless he can bring you a full price deal with no strings you will not accept the offer.. that will probably put an end to it all..
763394
Tell your Dad he had better cease and desist, you are 50% owner of the home and ALL decisions concerning the property need to be jointly made. Any money that is generated by the property you are entitled to 50% of, unless there are other stipulations. If he does not comply, you might need to get a lawyer, it sucks, but that might be your only recourse.
731738
Don't "blink". \n\nWhat you do next depends on whether you used a realtor or not.  \nIf you did, find a house online that's similar to what you want, and call your realtor and ask him/her to show it to you, as if you are presuming that offer is dead.  Let them bring it up if it isn't. \n\nIf you didn't use a realtor, start shopping again, and when five days has expired, send the seller a letter retracting your offer, nothing more.  \n\nIn any event, in ALL FUTURE OFFERS, you should make them expire in a set time. 2 days is good, unless you make the offer on a Friday, give them until Monday since they may be unavailable on weekends, or longer if the realtor informs you they aren't easily reached.
248914
Don't introduce the buyer to your real estate agent.  Read the contract you signed with your real estate agent and see when you can cancel it.  After the contract expires you may be able to sell the house without a commission.  It depends on what the contract says.  Read it carefully.
1167182
As they say, Possession is nine tenths of the law, not majority rules. Basically they have told you to get out, but they have nothing to back that request up right? If they want you out so that they can sell the house and split the money that is fine, let them know that you will make sure that the house is presentable and available to show, and once the sale goes through you will move. Until that time let them know that you are not leaving.
663477
Take her to court. If she made a verbal contract with you, then she is liable to uphold her end of the deal. \n\nYou have enough evidence for a court to agree with you, I would hope.\n\nProviding she purchased the supplies, that alone should show a preponderance of evidence that she intended for you to make her a product which she intended on purchasing.
1101414
It may not be too late...you need to contact the mortgage company immediately and find out if they will work out a deal with you.  If not, you can always try to buy it back.  I would suggest consulting with an attorney on this matter.
662555
Contact your real estate broker, they're usually experienced with things like this.\n\nMy understanding is that usually there's a clause in the selling agreement that if the buying party can not full fill the payment required the transaction may be canceled.
1062687
Absolutely, tell your Realtor you wish to cancel the listing.\n\nYour friendly neighborhood Realtor.
312317
The fact that the seller has not been able to obtain the pay off information from their lender does not make it necessary for you to agree to postpone the closing date. This is never a condition of sale. If you are utilizing the services of a real estate professional, he/she should have explained the full contract to you. As a matter of fact, there is a form that your agent should have sent to the seller's agent where the seller removes all contingencies.
1106009
The earnest money is returned to the buyer as long as the failure to close was due to contingencies included in the Contract to Purchase not being met or removed due to no fault of the buyer. \n\nMake sure you read your REPC(Real Estate Purchase Contract) in detail .\nhttp://www.lendermark.com
200575
it sounds like you should have had a lawyer during the real estate transaction.  I'd suggest hiring a real estate attorney to help clear up the matter.  for starters you could get info on the lein from the register of deeds office in your county.
1173939
If there are things that need to be fixed - you can ask the seller to do this. That's what I did when I bought my last place and I got a lot of stuff fixed.\n\nThis is a situation that your realtor should be able to fix.