Buying a house but seller pulls out

[Mitch Woods]

What is the name of your state? Our state is California. We put an offer in for buying a house and it was accepted. Contracts were signed and we can buy with cash if necessary. We were pre-approved for a loan. Now after 20 days of a 45 day escrow, the seller wants to cancel the sale. Can he do this? He has refused to let the loan company appraiser access for the appraisal and just put the escrow on hold. His dad is the broker. We want the house and don't want to walk away. What are our options to complete the deal? Or are we stuck with this mess. All inspections were made and paid for.

[BradleyS]

research......"Specific Performance." Then go see an attorney.

[vn288]

State : ca
We are in the exact situation like yours. We entered into contract in feb 05 and on the last day on 40 days escrow the seller backed out. We did win the specific performance against them and we are hoping to close the escrow in few days.
First you need to ask yourself how much u want this property. If u do want to sue them for specific performance it will take atleast 2 months minimum (very optimistic)for you to get the property. Hire an attorney(real estate attorney). If you have signed the arbitration /mediation clause you have to go through this . My sellers did not respond to this and hence we took them to court.
If you don't know the reason for their action try to talk to them and settlethe matter. This would save time, money and hell lot of frustration.

It is indeed sad that while the buyer's are penalised(their deposits taken) if they backed out , the sellers action like this don't get questioned.
Good luck and find yourself a good real estate lawyer.

[HomeGuru]

Originally Posted by Mitch Woods

What is the name of your state? Our state is California. We put an offer in for buying a house and it was accepted. Contracts were signed and we can buy with cash if necessary. We were pre-approved for a loan. Now after 20 days of a 45 day escrow, the seller wants to cancel the sale. Can he do this? He has refused to let the loan company appraiser access for the appraisal and just put the escrow on hold. His dad is the broker. We want the house and don't want to walk away. What are our options to complete the deal? Or are we stuck with this mess. All inspections were made and paid for.

**A: read your contract and have your attorney do the same.