Question on clause in agreement

[PaulR]

This agreement is in the state of PA.

I bought a house and the we have a private sales agreement (mortgage). There is a clause in the agreement that states:

"SUBJECT TO the agreement of the grantee herein, for himself, his heirs, executors and administrators, that he shall not sell the within described premises, or any part thereof, without first offering in writing to sell the same to Lxxxx X. Xxxx and Jxxxx X. Xxxxx, or to the survivor of them. A conveyance in violation of this agreement shall be deemed null and void."

I have received a promotion and transfer for work. I am no longer on "good terms" with the person I bought the house from. I have sent one letter (certified) over 30 days ago and the response I received stated they wanted to exercise this clause in the agreement, however they wanted me to sell it to someone else they know. I gave them a price and they ignored it and want me to sell it for what I bought it for. I have done a lot of work on the place and it has been four years since I bought it. I have had a real estate agent to the home and I am asking what they advised the house is worth. The persons they want me to sell it to have NOT contacted me since I sent the letter 30 days ago and I do not know them. I sent another letter today to them and copied the lawyer that wrote the agreement asking again for a decision. "Are you going to buy the house, yes or no?" And listed the price again. Have I lived up to my obligations as far as this clause goes in the agreement? Must I sell the house at a price they demand? I have not listed the house with a real estate agent yet but need to soon because of the job. Thanks for any advise.

 

[David J. Miller]

Is there anything else to this clause? It appears to have a lot of holes in it since it does not discuss anything specific concerning price. It does not state anything specific with regard to the amount of time you must allow for an acceptance. Since this is the case and you have offered to sell the home for fair market value, it seems to me you have fulfilled your end of the bargain and ought to be able to proceed in listing your home. Furthermore, you are not under obligation to sell this home to anyone other than the ones mentioned in the clause or their survivors. Someone they "know" does not fit into this category. Since they have already expressed their disinterest in buying the home, you should be free to sell the home to anyone you choose.

[Edited by David J. Miller on 11-29-2000 at 08:12 PM]

 

[HomeGuru]

What you have there is a buy-back agreement or a first right or refusal clause. The clause was written very poorly. List the home with a real estate agent but make sure the Sellers name is on the listing as an exclusion. I give you permission to sell the home.