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Old 10-08-2019, 05:55 PM
 
1,013 posts, read 282,808 times
Reputation: 2736

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Quote:
Originally Posted by warmsurfer View Post
Everybody here is so kind.But of course business is business.
An honest person works so hard on his house and he should get rewarded.But instead he is going to lose 10s of thousands of money.Just by clicking on the Internet
They are pushing hard for settlement.
Why am I hurry up to lose money ?I have to take 3 plane rides to get to the place and I am on medication.
How much time I can put off for the settlement until they can sue me ?
Do you have any medical conditions? a diagnosis?, a mental disability? or are you on a medication that might have contributed to you signing a contract against your will under pressure from the buyer and a real estate agent??, when in fact you did not want to sell?
How did you meet your real estate agent?
Are you very elderly?
Do you have a family?
Do you live in another country and English is not your first language and you have difficulty understanding what you have signed?
Is it a reputable real estate brokerage- can you give us a name of the real estate brokerage that you are using?
Are you afraid, that someone from Internet is scamming you out of a house?
Do you have another home? Where are you going to live?
You may be right if something does not feel right..

Some of those circumstances could potentially invalidate the signing of the contract- but you need an intervention on your behalf from the elder care case manager, an attorney or your family? A police- if you think it is a scam??

We need more information from you to get a better understanding what is gong on...
It is clear that you are in distress and show some irrational thinking..
You may have a case: but you may need help from the third party.. urgently

Last edited by Nik4me; 10-08-2019 at 06:16 PM..
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Old 10-08-2019, 06:17 PM
 
597 posts, read 231,074 times
Reputation: 2120
I'm in the camp of "it all comes down to what the signed sales contract says".
If Buyer A cannot complete this sale and the contract does not allow a change in buyer (assignment) then the seller does not have to agree to a different buyer. And (as stated by others) the fact that they are pressuring the seller to sign a change to allow a different buyer sounds like the seller has a choice whether to sign this change or not.

A seller can decide not to sell if the contract is not being fulfilled as written.

The big problem I see in current real estate practice is that buyers and sellers agents push a sale because they don't get their commission unless it is sold. Sellers can be pressured and buyers can be pressured, and agents on both sides gang up on the party who impedes their money. All comes down to the contract and guess who wrote it?
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Old 10-08-2019, 07:35 PM
 
163 posts, read 75,406 times
Reputation: 285
Quote:
Originally Posted by warmsurfer View Post
Hi,
I signed a binding contract to sell.Closing date was set.
Then buyer asked for an extension,I agreed and signed.
Then,my realtor told me buyer wants to put the house in his company's name in stead of his name.I agreed,but no paper was signed.
Buyer and my realtor are pushing very hard for closing.
I am not sure what name will the buyer use when I show up for the closing.
My questions are:
The originally contract is voided because name changed ?
Do we need a new contract ?
For some very good reason I want to keep the house.I refuse to go to closing,Am I going to breach the contract ?
Thank s so much.
Did you not hire a good real estate attorney or something????
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Old 10-08-2019, 10:25 PM
 
42 posts, read 20,601 times
Reputation: 25
Quote:
Originally Posted by possibleyou View Post
Did you not hire a good real estate attorney or something????
Thank you all for kind inputs.
I read through the contract,it is a simple contract.it clearly says if any changes in the contract, both party must agree and sign in writing.
And I did contact a real estate attorney.
I know if I back out of the contract,I am wrong.
Then again,I worked in that house with my own hands.I should get paid like everybody else.why give up ?
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Old 10-08-2019, 11:16 PM
 
42 posts, read 20,601 times
Reputation: 25
Quote:
Originally Posted by austinnerd View Post
I know it's a bit of a long thread, but you may have missed:





I don't see how one can come to the conclusion that it's an issue of the buyer stonewalling based on the above comments made by the seller. Plus we don't know if "name-change" is literally what the buyer asked for or just the OP's interpretation of what's contractually being asked for.
I do have the mail from my realtor asking for ,**buyer name change.If I do not sign,then release the buyer, and put the house back in the market.**.I said ,"put the house back in the market."
Then my realtor said ," The buyer refuse to release the contract"
May be we can go like this: proceed closing with the originally buyer's name ?
Then the problem is solved.
If the buyer can not proceed,then the buyer breach the contract.
I am not a lawyer.
I am waiting.
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Old 10-08-2019, 11:34 PM
 
597 posts, read 231,074 times
Reputation: 2120
I always ask myself "What's the worst that can happen" in difficult situations.
You need legal advice because you have changed your mind after signing a contract.

Your agent and the buyers agent could demand that their commission be paid since you signed a contract for sale.
The buyer could file suit and put a lien on your property preventing sale to anyone else.

How do you know they could do this? You don't because you don't know what your exact legal situation is.
What the realtor "said" does not count at all. What is on paper is the only thing that counts. Nothing else.
A good lawyer can get you out of it (maybe).
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Old 10-09-2019, 01:54 AM
 
Location: on the wind
8,045 posts, read 3,477,661 times
Reputation: 27469
Quote:
Originally Posted by warmsurfer View Post
hen again,I worked in that house with my own hands.I should get paid like everybody else.why give up ?
If you think the house was worth more than the buyer's offer, you could have refused it. There would be no contract to try to back out of now. Or, you could have countered their offer.
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Old 10-09-2019, 08:39 AM
 
Location: Rochester, WA
6,445 posts, read 3,632,671 times
Reputation: 17382
I’m in agreement with much in this post below. No matter what else is going on, the objections and comments here don’t make sense. Warmsurfer, if you are not willingly selling your house and don’t feel comfortable making these decisions please seek real help. Do you have one family member or friend or therapist you can trust to help you? We can’t from here.

Quote:
Originally Posted by Nik4me View Post
Do you have any medical conditions? a diagnosis?, a mental disability? or are you on a medication that might have contributed to you signing a contract against your will under pressure from the buyer and a real estate agent??, when in fact you did not want to sell?
How did you meet your real estate agent?
Are you very elderly?
Do you have a family?
Do you live in another country and English is not your first language and you have difficulty understanding what you have signed?
Is it a reputable real estate brokerage- can you give us a name of the real estate brokerage that you are using?
Are you afraid, that someone from Internet is scamming you out of a house?
Do you have another home? Where are you going to live?
You may be right if something does not feel right..

Some of those circumstances could potentially invalidate the signing of the contract- but you need an intervention on your behalf from the elder care case manager, an attorney or your family? A police- if you think it is a scam??

We need more information from you to get a better understanding what is gong on...
It is clear that you are in distress and show some irrational thinking..
You may have a case: but you may need help from the third party.. urgently
Reply With Quote Quick reply to this message
 
Old 10-09-2019, 11:15 AM
 
10,376 posts, read 4,867,984 times
Reputation: 13597
Quote:
Originally Posted by old_cold View Post
Most banks have a notary and even many insurance offices. No need to sped big bucks for a mobile one.

Maybe they are currently outside of the country?
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Old 10-09-2019, 12:26 PM
 
6,921 posts, read 8,343,382 times
Reputation: 12091
Quote:
Originally Posted by warmsurfer View Post
Thank you all for kind inputs.
I read through the contract,it is a simple contract.it clearly says if any changes in the contract, both party must agree and sign in writing.
And I did contact a real estate attorney.
I know if I back out of the contract,I am wrong.

Then again,I worked in that house with my own hands.I should get paid like everybody else.why give up ?
Quote:
Originally Posted by warmsurfer View Post
I do have the mail from my realtor asking for ,**buyer name change.If I do not sign,then release the buyer, and put the house back in the market.**.I said ,"put the house back in the market."
Then my realtor said ," The buyer refuse to release the contract"
May be we can go like this: proceed closing with the originally buyer's name ?
Then the problem is solved.

If the buyer can not proceed,then the buyer breach the contract.
I am not a lawyer.
I am waiting.
Did the real estate attorney explain to you the potential legal costs and troubles that may happen to you if you don't honor the contract?

As has been pointed out correctly, you may be able to refuse to transfer the property to the buyer's corporation since it is technically a different party. However, most purchase contracts that I have dealt with have language to the effect of "this agreement is binding upon the parties and their successors or assigns." If your contract has any similar language, they do not need your permission to have the purchase go to another party. Many people purchase properties under corporate names. It is not unusual at all and you bear no risk by allowing it to happen. From a practical standpoint, why do you really care? As long as you get your money, you will be fine. Even if they don't have a legal right of assignment, I think it would be unreasonable of you to prohibit such a simple change (which you already agreed to do, verbally).

It still sounds as if you're just looking for an excuse to back out of the contract...but what puzzles me is that you state that you would simply put it back on the market. What makes you think that someone else would pay more? Hoping for more money is not a valid reason to try to void a contract. If money was your concern, you should not have agreed to sell at the price you agreed to. Perhaps you made a mistake in agreeing to the price but, unfortunately, you are stuck with that decision.

Don't complicate matters and make things worse by breaching the contract for no good reason. You really need more complete legal advice on this if your intent is to not honor the contract.

Finally, it sounds as if the buyer is willing to proceed to closing as contracted. If that works for you, fine, but it still sounds like you simply are not familiar with typical real estate practices. You have nothing to fear if you deed the property to his corporation. It just complicates if for the buyer since they would then need to reconvey the property. Whether you stick with the purchase agreement as written or transfer the deed to his corporation, just take relief in the fact that you will no longer be burdened with this property and that you will not incur further holding costs. Good luck.
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