Currently going through this. Seller backed out within one week of closing. Lawyered up and am in the beginning stages of the lawsuit. People always ask "is it really worth the time it'll take in court and attorney costs etc.?" Idk about anyone else but in my case YES. And if you knew about my situation you would full on agree 100% too. Most people pull terrible crap like this assuming threatening to sue is a bluff. Luckily we are financially able and willing to follow through. It is the home my mother was ... taken from this world in.. so yes. It is worth it. To ME.
This is great info, thank you. We drove 3 hours and booked a hotel to close early yesterday. After delaying the closing all day the seller refused to complete their obligations over some kind of marital dispute they were having. We’re screwed, they keep just asking our agent to delay but it’s looking really grim. I can’t sleep and have been emailing different attorneys
I was selling my house and someone made an offer. I signed contract with a buyer. Then, I realized I couldn’t find a home I like and afford. So, I back out the deal. Nothing happened. I got my house back by not moving out. I did not get Sue. Everything was smooth. My buyer did not sue me and my listing agent did not say anything. I was lucky in Texas.
This happened to us too, we were left without housing and had to take the money set aside for the house and put it towards finding alternative housing. We are now having to deal with a breach of contract suit to get the money we sunk into the house. Both of our agents are from the same company/office and they have been ordered to not get involved so our agent won't help us at all
This happened to us as the Buyers. We had to sue for Specific Performance of the Contract. We had to go to Binding Arbitraition as required by the Contract and we won. It did take 6 months to finish.
Going through a situation where the CO cannot be produced and the seller does not want to adjust the sale price. What actions can I take ? Or where can i go to learn about possible actions i can take. This is in NYC. So disheartening.
Our friends are going through this at the moment. Moving from AZ Prescott area to NM. Closing in a day and seller refused to sigh closing papers. Unfortunately agent is not very helpful. OMG what a mess. Great timely video.
If the seller’s agent did not presented the written offers to the seller but rather just verbally mentioned there were offers. And the seller declined those offers- no sales contract were written up. Could the buyer’s agent go after the seller for commission?
What to do, when the seller wants to back out 2 years after closing, 2years after living their, because they "miss the house" and feel like they made a mistake?
What can a seller do when they feel they have got swindled & tooken advantage on estimate of market value due to lack of knowledge & buyer hasn't given earnest money? And seller then doesnt show up to closing?
Can the buyers agent file "LP" or file suit for commissions owed by bringing a willing and able buyer to the transaction. I had this happen 5 days before COE.
I am selling my house, and have found out that the seller agent made a 100K USD miscalculation on price, so the contract price is making me a loose a large amount of money. Can I back out of this sale
Did you end up selling the house? Depends on the state that you are in. In AZ the sellers have not real power to back out of the deal unless there are actions taking (like not offering repairs) to force a buyer into potentially backing out of the deal.
I had to back out of selling my home because I couldn't find a home to move into. Didn't know everyone from California and China are coming to TX to mine BTC and blow Elon's Tesla.
HOW ABOUT THE BROKERS QUIT GASLIGHTING BOTH THE BUYERS AND THE SELLERS AND TRICKING THEM INTO SIGNING SOMETHING THEY ARE NOT READY TO DO.. YOU GUYS FOCUSED ON THE COMMISSION WAS YOUR FIRST MISTAKE AND NEVER MENTIONED HOW YOU WERE OBLIGATED AND HAD A FIDICUARY DUTY TO YOUR CLIENT. THIS IS ON YOU AND MOST OF THOSE BUYERS ARE STRAW MEN.
I am in similar situation decided to sell a broker within 2 days brings in a buyer so now he 8s a dual agent he said I am resposible to pay commision I signed a contract to sell then I find out sellers are no longer have to pay buyers commision and I am upset I reached out to my agent by email and called him he is not its been 5 days not heard from him feducuary duty non exist I feel misled can I cancel my contract to sell please help
@@JoshZuniga I bought my home and had a rentback contract. the sellers tried to stay after the 30 days we gave them. I acted quickly. the sellers started to tell their realtor that they needed more time, they got 575,000 at close so we knew this was a scam. the sellers were approached to remind them of contract, they started acting like they had no idea what we were talking about. they said - O the people we are buying from have not bought a house so they need more time-- Bullshit!!!!!!!!!!!!!!!!!!!!! they even tried to offer money - they would have been a rental contract and they would have been able to stay .. renters rights and moratorium . So i contacted my lawyer, We went after them for breech of contact...since they were still there on the 1st the judge gave us 6800.00 damages + 3000.00 lawyers fees .. we had rented out our condo and were loosing money. we received 5000.00 loss of revenue. .. he said this was an attempt to stay due to the fact that they received alot much from sale. judge said - in what way are u being disenfranchised u have 575,000 cash. then he added on an additional 2200.00 he was mad he said they were running a scam. we got 15,000 total. the judge was mad
Currently going through this. Seller backed out within one week of closing. Lawyered up and am in the beginning stages of the lawsuit. People always ask "is it really worth the time it'll take in court and attorney costs etc.?" Idk about anyone else but in my case YES. And if you knew about my situation you would full on agree 100% too. Most people pull terrible crap like this assuming threatening to sue is a bluff. Luckily we are financially able and willing to follow through. It is the home my mother was ... taken from this world in.. so yes. It is worth it. To ME.
Wondering what's the outcome
What happened. Did you win?
This is great info, thank you. We drove 3 hours and booked a hotel to close early yesterday. After delaying the closing all day the seller refused to complete their obligations over some kind of marital dispute they were having. We’re screwed, they keep just asking our agent to delay but it’s looking really grim. I can’t sleep and have been emailing different attorneys
I appreciate the acknowledgments of keeping things between agents. That’s a truly professional and significant thing to do. Good video!
I was selling my house and someone made an offer. I signed contract with a buyer. Then, I realized I couldn’t find a home I like and afford. So, I back out the deal. Nothing happened. I got my house back by not moving out. I did not get Sue. Everything was smooth. My buyer did not sue me and my listing agent did not say anything. I was lucky in Texas.
You were very lucky you were not sued for Specific Performance of the Contract.
Great video, guys. A purchase agreement is really important and crucial, we make sure we are transparent with the seller. 🙌🏼
Going through a similar situation in Texas with a seller. What type of compensation can one usually sue for under specific performance?
It’s hard to get a lawyer to take it imo. What did you do?
Agreed! I can’t find an attorney to take my case with D. R. Horton
Find a real estate attorney
What happens when the seller backs out of the deal and the buyer sues the seller and the house is going up for auction?
Where is the updated video?did buyers ever get the house? Want to hear more as I am about to go thru something similar
This happened to us too, we were left without housing and had to take the money set aside for the house and put it towards finding alternative housing. We are now having to deal with a breach of contract suit to get the money we sunk into the house.
Both of our agents are from the same company/office and they have been ordered to not get involved so our agent won't help us at all
This happened to us as the Buyers. We had to sue for Specific Performance of the Contract. We had to go to Binding Arbitraition as required by the Contract and we won. It did take 6 months to finish.
Going through a situation where the CO cannot be produced and the seller does not want to adjust the sale price. What actions can I take ? Or where can i go to learn about possible actions i can take. This is in NYC. So disheartening.
Our friends are going through this at the moment. Moving from AZ Prescott area to NM. Closing in a day and seller refused to sigh closing papers. Unfortunately agent is not very helpful. OMG what a mess.
Great timely video.
Hi any update on above situation because we are in same situation in California
@@deepthig5648 They contacted the State and filed a complaint. The state will try to resolve or it goes to arbitration.
@@missyd0g2 Thank you , Hi we also filing case against them
Can you help how much time it will take for the judgement
If the seller’s agent did not presented the written offers to the seller but rather just verbally mentioned there were offers. And the seller declined those offers- no sales contract were written up. Could the buyer’s agent go after the seller for commission?
What to do, when the seller wants to back out 2 years after closing, 2years after living their, because they "miss the house" and feel like they made a mistake?
Seller dragged me along for 6months declining every offer (10)then decided to try with another agent when the listing expired
What if the home is in probate but you signed a contract but still not over the estate , can you back out?
What can a seller do when they feel they have got swindled & tooken advantage on estimate of market value due to lack of knowledge & buyer hasn't given earnest money? And seller then doesnt show up to closing?
Can the buyers agent file "LP" or file suit for commissions owed by bringing a willing and able buyer to the transaction. I had this happen 5 days before COE.
I am selling my house, and have found out that the seller agent made a 100K USD miscalculation on price, so the contract price is making me a loose a large amount
of money. Can I back out of this sale
Did you end up selling the house? Depends on the state that you are in. In AZ the sellers have not real power to back out of the deal unless there are actions taking (like not offering repairs) to force a buyer into potentially backing out of the deal.
No cap bro. Nice tan
I had to back out of selling my home because I couldn't find a home to move into. Didn't know everyone from California and China are coming to TX to mine BTC and blow Elon's Tesla.
How did you get out of the contract? I'm having the same issue
any updates?!?
Buyer sue then seller just file bankruptcy! It will just be a waste of time for the buyer side😁
HOW ABOUT THE BROKERS QUIT GASLIGHTING BOTH THE BUYERS AND THE SELLERS AND TRICKING THEM INTO SIGNING SOMETHING THEY ARE NOT READY TO DO.. YOU GUYS FOCUSED ON THE COMMISSION WAS YOUR FIRST MISTAKE AND NEVER MENTIONED HOW YOU WERE OBLIGATED AND HAD A FIDICUARY DUTY TO YOUR CLIENT. THIS IS ON YOU AND MOST OF THOSE BUYERS ARE STRAW MEN.
Explain why you think the brokers are gaslighting and the buyer's are straw men.
I am in similar situation decided to sell a broker within 2 days brings in a buyer so now he 8s a dual agent he said I am resposible to pay commision I signed a contract to sell then I find out sellers are no longer have to pay buyers commision and I am upset I reached out to my agent by email and called him he is not its been 5 days not heard from him feducuary duty non exist I feel misled can I cancel my contract to sell please help
can business seller back out on verbal contract after cashing initial check by returning the deposit for better offer?
If you don’t have a contract it sounds like you don’t have any contractual obligations to anyone. Are you the seller or buyer?
@@JoshZuniga
I bought my home and had a rentback contract. the sellers tried to stay after the 30 days we gave them. I acted quickly. the sellers started to tell their realtor that they needed more time, they got 575,000 at close so we knew this was a scam. the sellers were approached to remind them of contract, they started acting like they had no idea what we were talking about. they said - O the people we are buying from have not bought a house so they need more time-- Bullshit!!!!!!!!!!!!!!!!!!!!! they even tried to offer money - they would have been a rental contract and they would have been able to stay .. renters rights and moratorium . So i contacted my lawyer, We went after them for breech of contact...since they were still there on the 1st the judge gave us 6800.00 damages + 3000.00 lawyers fees .. we had rented out our condo and were loosing money. we received 5000.00 loss of revenue. .. he said this was an attempt to stay due to the fact that they received alot much from sale. judge said - in what way are u being disenfranchised u have 575,000 cash. then he added on an additional 2200.00 he was mad he said they were running a scam. we got 15,000 total. the judge was mad
verbal contract are enforceable, also the fact that you cashed the check means
that there was a meeting of the minds