Seller changing mind right before close!

[MermaidsMom]

Is there any recourse if the seller backs out AFTER we pass ROFR? Has this happened to anyone else?

 

[DisBeliever]

Is seller an individual or a resale company? We need just a bit more detail to be able to think this through.

 

[Machta]

This is a real estate transaction, right? What does your contract say concerning remedies for Seller's default?

 

[JeanJoe]

A situation like this was posted several months ago. See this thread

Basically, there is no recourse, although I think the resellers (even the two that are not on speaking terms) should share the information on the seller and blacklist them from future business.

 

[JimMIA]

As JeanJoe said, while technically (legally) you do have recourse, in the real world there's not much you can do. It's not very feasible to sue someone for specific performance on a $10,000-20,000 contract. The legal fees would be more than the value of the contract.

The situation JeanJoe referred you to actually turned out to be two contracts, both offered by the same seller in the UK to two different buyers. They went through ROFR and all the way to closing before backing out with some clearly bogus excuses.

It would help others if you would post as much information as you feel comfortable with, including some details of the contract, broker, etc. That might help others spot any patterns...if there are any.

 

[Dean]

From a practical standpoint you really have little options. You wouldn't sue over this I'm sure. You might have a lawyer write them a threatening letter to see if it will push them along. Otherwise, time to move on.

 

[MermaidsMom]

Thanks to everyone for the info. After I posted we got a follow up phone call and they ARE going thru with it after all. I guess they had last minute DVC-itis and didn't want to part with DVC after all. I can understand the feeling but am glad it's solved.

 

[Dean]

Thanks to everyone for the info. After I posted we got a follow up phone call and they ARE going thru with it after all. I guess they had last minute DVC-itis and didn't want to part with DVC after all. I can understand the feeling but am glad it's solved.

congrats, glad it worked out. Welcome Home!

 

[manning]

Money wise, not worth it. However a practicing real estate agent/lawyer in florida (I think) said if you want to get even just put a lean on the records and walk away from it. When it comes time for the seller to really sell it will give him problems. He has to clear the title.

If it doesn't cost much to do this may be something to consider by all. Maybe it will give second thought to those who use this tactic to get better prices.

 

[MermaidsMom]

If they had a good reason for backing out like losing a job and deciding to sell and then getting another job so they can afford it after all I would simply make an offer to buy another one. I wouldn't mind if they assured me that they weren't going to sell to ANYONE else but just loved DVC so much they wanted it back. Who here couldn't understand that feeling. But, if it's a ploy to get a better price that's another story!

 

[manning]

If they had a good reason for backing out like losing a job and deciding to sell and then getting another job so they can afford it after all I would simply make an offer to buy another one. I wouldn't mind if they assured me that they weren't going to sell to ANYONE else but just loved DVC so much they wanted it back. Who here couldn't understand that feeling. But, if it's a ploy to get a better price that's another story!

According to the other thread it appears there are a few who are using that ploy.

 

[JimMIA]

Money wise, not worth it. However a practicing real estate agent/lawyer in florida (I think) said if you want to get even just put a lean on the records and walk away from it. When it comes time for the seller to really sell it will give him problems. He has to clear the title.

If it doesn't cost much to do this may be something to consider by all. Maybe it will give second thought to those who use this tactic to get better prices.

I can't imagine what legal standing you'd have to put a lien on the property without first suing and getting a judgement. Lien for WHAT???

If it's resolved, just be glad it is and move on to enjoying your DVC.

 

[manning]

I can't imagine what legal standing you'd have to put a lien on the property without first suing and getting a judgement. Lien for WHAT???

If it's resolved, just be glad it is and move on to enjoying your DVC.

Have no idea. It was brought up by a lawyer and I guess the idea is that it clouds the title and gives the seller heartburn. I guess when the buyer does a title search it shows another contract is outstanding.

If he's reading this, maybe he can explain it.