Contingency Contract questions

What is the name of your state? FL

I am a buyer of a house with a contingency contract. The purchase is contingent on my selling a piece of property needed to put the down payment on this house. In the contingency, it says that the contract is contingent on the successful sale of either of the buyers lots by April 19, 2004.

I have one lot that is now under contract but won't close until 5/12/04 (after 4/19 per the contingency), but I want out of the house contract. So if the lot is under contract, but not closed, what determines a "successful sale?"

The sellers do not want to return my deposit even though the lot has NOT sold because they THINK there is another reason. Well there is, but I thought I had an out since my lot has not closed.

thank you.

And what did your Real Estate attorney tell you? YOu know the one who can read the entire contract and give you an informed opinion?

[HomeGuru]

good one.

don't have a real estate attorney, just an agent and title company. but i do have prepaid legal so I will post the question there.

thanks for your free advice....NOT

[JETX]

A contract for sale is NOT a sale and therefore would probably NOT meet the contingency required. This would further be supported IF your agreement stipulates the purchase is "contingent on my selling a piece of property needed to put the down payment on this house" as you clearly would NOT have the funds at the time.

However, the seller of the property may disagree with your 'interpretation' of the contract.

And since we can't see it, we can't tell you which way it might end up.

Bottom line..... the advice you got on this forum is accurate based on the VERY limited information you provided.

So, quit being an a$$hole.

[HomeGuru]

That's right.