Seller not willing to close

What is the name of your state? Idaho

Hi and thanks in advance. I have a signed earnest-money agreement to buy a piece of property(bare ground). The land I am buying is one half of a property that has recently been divided into two parcels. The original property was owned by two people and they must now "quit-claim" each other's halves to complete the split. It seems as if the "quit-claim" aspect may not be completed in time before my window for closing expires. It also seems that my seller may be intentionally using this to back out of the deal. What will happen to my contract to buy if this occurs?
Can I force the seller to complete the quit-claim in time? Can I sue him into completing the original aim of the entire exercise- to split the property and sell me his half? He has, after all, signed an agreement to sell, but I think he now wishes he had asked a higher price.


Regards,

Jo

[I AM ALWAYS LIABLE]

Originally posted by Jobarwo
What is the name of your state? Idaho

Hi and thanks in advance. I have a signed earnest-money agreement to buy a piece of property(bare ground). The land I am buying is one half of a property that has recently been divided into two parcels. The original property was owned by two people and they must now "quit-claim" each other's halves to complete the split. It seems as if the "quit-claim" aspect may not be completed in time before my window for closing expires. It also seems that my seller may be intentionally using this to back out of the deal. What will happen to my contract to buy if this occurs?
Can I force the seller to complete the quit-claim in time? Can I sue him into completing the original aim of the entire exercise- to split the property and sell me his half? He has, after all, signed an agreement to sell, but I think he now wishes he had asked a higher price.


Regards,

Jo

My response:

If the deadline expires, then sure, you can sue him for Breach of Contract and Specific Performance. That should keep you busy for the next 3 years, and about a 3 pounds of 100's lighter.

IAAL

You're scaring me. Just what is involved in this type of a suit? Can it really drag out? Is it usually not worth it? I have many months of work in this sale, but the seller is really "flakey" and will probably dissapear if I bring suit. I don't even have a legal street address for him(long story). Would I just be buying a vacation in the Bahamas for some lawyer?

Jo

[I AM ALWAYS LIABLE]

[quote]Originally posted by Jobarwo


the seller is really "flakey" and will probably dissapear if I bring suit. I don't even have a legal street address for him(long story).

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My response:

Then who's smarter - - you or him? I think it was him.

After the closing expires, you'll be here asking about how to get your money back because the seller disappeared.

You know, I can't save everyone in the world.

IAAL

Understood, to a degree... I'm not sure what you mean by "smarter". This person has, during this time, become known to me to be "flakey". However, he has signed a legally binding agreement to sell me his property. By the way, his co-owner has also just listed her half of the property for sale and therfor is obviously expecting the quitclaim to occur. It is just the timing that is a problem for me. Kindly hang with me in this quandry for a bit. I really have a lot invested in this deal. Real estate is rising in price here quickly and I have gotten a good price on this parcell. There wll probably not be another opportunity like this one and I need to do all I can to make it happen, if possible.

Jo

[I AM ALWAYS LIABLE]

[quote]Originally posted by Jobarwo
[b]

Kindly hang with me in this quandry for a bit.

==================================

My response:

It's not a matter of "hanging with you for a bit". There's nothing more that can be said to you. The vast majority of your posts are emotional, and really don't add anything; e.g., "I've got a lot invested in this." (I have no idea what you mean, but) Okay, so what? How does that help? Then, you talk about the co-owner. Okay, so what? What does the co-owner's sale have to do with the price of eggs in China? Then you say you "got a good price." Okay, so what? What does that matter? I believe you when you say he's signed a "legally binding contract." Okay, so what? It only become worthwhile and "binding" if you protect your rights. None of that has anything to do with getting the seller to do what he's supposed to do. Then you say you need to "do all I can." Okay, good. Then why aren't you sitting across from your attorney at his desk?

Look, I already told you what you need to do if the closing expires. You're the one who "went to bed" with a "flake", and unless you take action, you're going to lose. So, see an attorney the day after closing.

IAAL

>Thanks for your response. IAAL. I will insert my replies.

My response:

It's not a matter of "hanging with you for a bit".

>I guess I was just asking for more info.

There's nothing more that can be said to you. The vast majority of your posts are emotional, and really don't add anything; e.g., "I've got a lot invested in this." (I have no idea what you mean, but) Okay, so what?

>Well, I *mean* that I have invested a lot of time and effort, research, consulting fees to a realtor, and, yes, a bit of emotion in this transaction. As I explained, I don't think I can ever find a similar property at an affordable price.

How does that help?

>Doing the best I can, IAAL. Sorry to disappoint.

Then, you talk about the co-owner. Okay, so what? What does the co-owner's sale have to do with the price of eggs in China?

>As I thought I explained, the co-owner's intended sale means that there is intent on her part to quit-claim and split the ownership of the two properties. This is something that my seller indicated would not happen and he thought this negated our deal. I was wondering about the case where quitclaim did not occur before closing- I need to know if that let's my seller "off the hook" since he would then supposedly not own the property alone, and couldn't legally offer it for sale. Make sense now?

Then you say you "got a good price." Okay, so what? What does that matter?

>Well, that is one of the reasons why I want to complete the deal. Why is that not obvious?

I believe you when you say he's signed a "legally binding contract." Okay, so what?

> That, and the fact that he previously expressed willingness to sell, means that I retain hope that the deal will happen, or that I can force the issue.

It only become worthwhile and "binding" if you protect your rights.

>Of course, and that is what I was seeking info about- my rights and what might be involved in protecting them.

None of that has anything to do with getting the seller to do what he's supposed to do.

>Well, isn't the very beginning of "protecting your[my] rights" knowing what documents have been signed, and what they stipulate? I'm not sure of your point, here.

Then you say you need to "do all I can." Okay, good. Then why aren't you sitting across from your attorney at his desk?

> I have looked into representation in this matter. I don't yet know if it is going to be required and your original response indicated the large expense which might be incurred. I was already trying to balance those costs with possible benefit. That is why I came to this forum for advice.

Look, I already told you what you need to do if the closing expires. You're the one who "went to bed" with a "flake", and unless you take action, you're going to lose. So, see an attorney the day after closing.

>I thought you indicated that this would be quite expensive, so I asked for clarification of your opinion. I assume you have experience in this area and could offer more info about the legal process that would occur and just how expensive it might be. I was already assuming that I should consult with an attorney *before* the closing date came and went. Not so? I don't know how to proceed with a "closing" where the seller does not show. I'm not sure my realtor knows either.

>In my experience, if I avoided all interaction with people who are not mentally/emotionally balanced, honest, level-headed, etc, I would have to become a hermit. Therefor, I am attempting to buy property from someone with whom I would prefer *not* to have dinner.

>Regards, Jo

IAAL

[HomeGuru]

Good grief.

[I AM ALWAYS LIABLE]

[quote]Originally posted by HomeGuru


Good grief.

===================================

My response:

Yeah, I know. It's like talking to a brick wall.

IAAL

My response:

Then who's smarter - - you or him? I think it was him.

After the closing expires, you'll be here asking about how to get your money back because the seller disappeared.

>>By the way... What money are you talking about? He has none of my money- how could he?

Jo


You know, I can't save everyone in the world.

IAAL

[HomeGuru]

Great Wall of China.