I Have A PA Signed And Seller Wants To Back Out
I signed a PA with a seller and agreed to pay her some cash and take her property over subject to her mortgage. She has not signed the deed over yet. She now wants to back out. What are my rights? Has anyone been through something like this? There's enough equity on this one to not want to loose it.
Thanks
If someone wants out we most of the time will let it go. Backing out now if held in the deal means trouble later. Ask them to pay a few bucks for your time and contracts you had drawn up. If someone is hedging now let them fly before trouble comes latter. There are more deals out there.
Sire
Hi slogreira,
If this seller definately want out, it is best to let them. Can you enforce the PA, maybe . . . maybe not. If you do, it may cost you some tall dollars in attorney fees, and it may be lengthy as well. Try to determine what made the seller change directions? Is it something you said? Was it your presentation? Sometimes, it is simply that the seller really wasn't motivated.
There are people standing in line right now, waiting for you to help them.
Best of Success!
BAMZ
[addsig]
After a lot of years facing this exact situation, and often choosing to go to war with people to force them to do what they've agreed to do-I definitely agree.
It's just easier on me & my stress level, let alone cheaper in terms of my time & expense, to let them walk, get rid of them & move on.
A possible way to prevent this is to have your written deal notarized, AND have a witness or two. Seems to be a little more intimidating to the seller and makes him/her think a little harder about backing out & claiming you've done anything wrong, crooked, fraudulent, etc...because you've got those witnesses standing by to testify for you.
Also I sure recommend using a comprehensive disclaimer form ,where the seller's saying, in writing, you've given him all kinds of notices, and he's released you from fraud, over-reaching, other promises, etc, etc., so now it's pretty hard for him to come back at you with any kind of claims about what you did or didn't do.
And he can't claim you made any other unwritten promises of any kind, because of your "independent" witnesses.
Remember to prime your witnesses, BEFORE they sign, so they'll remember the deal, remember how fair you were, how you did not promise anything else, you told them candidly exactly what you'll pay & do, etc...so you're really building your case upfront.
Another thing to remember...any and all email or fax communications between you ARE "in writing", legally (as per Uniform Electronic Transactions Act).
So you should not do not say anything in any emails or faxes that you don't want to include in your agreeement...and DO keep any and all emails from the other side so you've got them to use in case of any dispute.
Nice replys! Additionally keep your paperwork and leave a gracious door open. They may shop you a little bit and find that yours transaction is easy to come back. 8-)
Hey everyone,
Thanks for your replies. I went to see the seller today and I offered her a little more money and she was happy with that. I really didn't want to fight her on it.
Thanks for your advise.