We signed a lawyer document titled "Agreement For Sale"
We paid a monthly down payment, property tax, insurance and a deposit. We had 8 months to complete the sale.
When we tried to finalize the deal the bank sent an inspector and came back with over $30,000 of mold, water, etc damage and would not place a mortgage in property.
The owners refunded us $4300. 2 months later we get served with court papers to get the $4300 back.
In our "Agreement For Sale" it states;
If the vendor deems is advisable in the exercise of an absolute and uncontrolled discretion so to do, may at any time after the happening of any such defaults, declare this agreement null and void as full and completely as if this agreement had never been executed, and upon the expiration of the time limited on the said notice. The rights and interest hereby created or then existing in favour of the purchaser or derived under the provisions hereof shall forthwith cease and determine without any legal proceedings being taken or other act being performed by or on behalf of the vendor.
With that in the document can they sue us?
We paid a monthly down payment, property tax, insurance and a deposit. We had 8 months to complete the sale.
When we tried to finalize the deal the bank sent an inspector and came back with over $30,000 of mold, water, etc damage and would not place a mortgage in property.
The owners refunded us $4300. 2 months later we get served with court papers to get the $4300 back.
In our "Agreement For Sale" it states;
If the vendor deems is advisable in the exercise of an absolute and uncontrolled discretion so to do, may at any time after the happening of any such defaults, declare this agreement null and void as full and completely as if this agreement had never been executed, and upon the expiration of the time limited on the said notice. The rights and interest hereby created or then existing in favour of the purchaser or derived under the provisions hereof shall forthwith cease and determine without any legal proceedings being taken or other act being performed by or on behalf of the vendor.
With that in the document can they sue us?
