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Old 08-04-2016, 12:50 PM
 
4 posts, read 2,379 times
Reputation: 10

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I've been under contract to purchase a home since April of this year. Day of closing seller fails to appear and stops communicating with his attorney and agent. His reason for such is because he isn't happy with the numbers in the CD (closing disclosure). We have both known what the sale would be. This is my first time buying a home however it is not his. He owns several other properties. Today the "time is of the essence" letter was sent out.


Does any one think I have a good case? Or should I just move on. I really fell in love with the property....

Last edited by Home1201; 08-04-2016 at 02:03 PM..
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Old 08-04-2016, 02:00 PM
 
1,947 posts, read 3,324,539 times
Reputation: 1194
Quote:
Originally Posted by Home1201 View Post
I've been under contract to purchase a home since April of this year. Day of closing seller fails to appear and stops communicating with his attorney and agent. His reason for such is because he isn't happy with the numbers in the CD (closing disclosure). We have both known what the sale would be. This is my first time buying a home however it is not his. He owes several other properties. Today the "time is of the essence" letter was sent out.


Does any one thing I have a good case? Or should I just move on. I really fell in love with the property....
He's under contract. Force him to perform (specific performance). Very, very, very low probability the courts (if it ever went that far) would let him out of the contract. If you like the place, then make him sell it to you. This is the point of the contract - to make each side "perform" their obligations under the contract. Your attorney probably has to as a matter of procedure send the "time is of the essence" letter first. Then he can notify the seller that you intend to enforce the Specific Performance provision. The seller's attorney will likely tell him to sell because he (the seller) will lose in court.
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Old 08-04-2016, 02:04 PM
 
4 posts, read 2,379 times
Reputation: 10
Quote:
Originally Posted by MiamiLIFE View Post
He's under contract. Force him to perform (specific performance). Very, very, very low probability the courts (if it ever went that far) would let him out of the contract. If you like the place, then make him sell it to you. This is the point of the contract - to make each side "perform" their obligations under the contract. Your attorney probably has to as a matter of procedure send the "time is of the essence" letter first. Then he can notify the seller that you intend to enforce the Specific Performance provision. The seller's attorney will likely tell him to sell because he (the seller) will lose in court.


Thank you MiamiLife,
Praying for the best!
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