Seller refuses to close

[REMom]

What is the name of your state?What is the name of your state? New York
My daughter and her fiance purchased a co-op in October, 2005. I am the selling real estate agent. Today is Jan. 10. The closing is scheduled for Jan.12. The sellers have just decided that they don't want to sell and they are not going to the closing. My daughter and her fiance have given up their apartment and must vacate it by Feb.1. They've purchased furniture for their new co-op. What is your opinion about recourse, a lawsuit, specific damages? Can I sue for my lost commission? Your professional opinion is appreciated.

 

[JETX]

What is your opinion about recourse, a lawsuit, specific damages?

If it is as you say, the 'recourse' of a breach of contract and request for specific performance is pretty good.

Can I sue for my lost commission?

You can sue for anything you want.... after all, anyone can sue almost anyone else over almost anything.

So, what did their agent say when you noticed them in WRITING that you were recommending the sellers breach file a breach of contract lawsuit and a lis pendens on the property to prevent the sale to anyone else???

 

[REMom]

thanks, jetx; Co-op closed

Thanks, Jetx
Update: My broker called the listing broker/agent to advise that the day after the scheduled non-closing, my broker would sue for the full commission due both agencies. An hour later, the sellers agreed to close. The closing was flawless!

 

[HomeGuru]

Yipee, a happy ending.

 

[JETX]

Thanks, Jetx

Of course, you're welcome.
And congratulations on their new home..... and your commission.