Selling A Home

[pjcar41]

What is the name of your state? CA

My friend is in escrow to sell his home in CA and now after 2 weeks of escrow he wants to keep his home.

Question is what the worst thing that could happen if he does not sell his home? Does buyer have any legal way to make him sell the home?

Thanks

 

[adjusterjack]

Yes, the buyer can sue him for specific performance - and win.

Defending against that kind of lawsuit could run into tens of thousands of dollars in attorney fees. Which means that your friend loses big-time even if he gets to keep his house.

Before he backs out of the deal he needs to talk to a lawyer.

Or see how much money the buyer will want for an agreement to cancel the sale.

One way or another it's gonna cost him.

 

[pjcar41]

Thank You

 

[sellingtampabayarea]

Yes, see how much the buyer can earn for the contract to cancel the sale.

 

[quincy]

Yes, see how much the buyer can earn for the contract to cancel the sale.

What do you mean by "earn" for the contract? Do you mean "accept?"

As a note: This is an older thread and reviving old threads is frowned upon on this forum. In addition, commercial messages are prohibited.