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#1
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Buyer recourse question.What is the name of your state? SD I made an offer on a parcel of land, and the seller accepted the offer. However, he never has had it surveyed or platted, and the title company says he needs to do so. He is now threatening to call the deal off if I don't pay at least half of the survey. Since it has never been platted, it is estimated to cost $1500. They have signed the purchase agreement, and I have gone through the mortgage process, and put earnest money down. The only thing we agreed to pay was half of the title costs. Can I sue to force him to sell? |
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#2
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| One consideration: If the legal description is so bad, you will not know what you are buying without a survey. The contract no doubt has a clause that he must convey good and marketable title; it may even say "legal description to govern". Thus, he can't give you good and marketable title without the survey. So if you spend $25K and three years and you win the lawsuit, then you will STILL have to get the survey. Only (since you "won"), you will have to pay for the whole thing. Do you want to pay $750 more and get the place soon? Or do you want to wait years and years and spend a lot of money for a 50-50 chance you might get it?
__________________ There are two rules for success: (1) Never tell everything you know. |
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#3
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| I was hoping just the threat of legal action would be enough, since I have a feeling he is attempting to strong arm me into paying so that there is more money in his pocket. The realtor (who represents both parties in this matter) said I was in the right and that the contract says they must provide a merchantable title at their cost. |
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