Buyer won't close

rayesspot · Oct 23rd, 2007, 04:45 PM

In April, 2006, we signed a contract to sell our house to an "as is" buyer. He promised to pay-off the loan and give us $6,500. He did pay the mortgage off, and he gave us $500 up front. We never received a copy of the contract, and he is renting the property instead of closing with us. We need the money, can we do anything?

Law200 · Oct 24th, 2007, 05:36 PM

You can cancel the contract if he has breached the agreements and evict his renter.

Oct 24th, 2007, 08:05 PM

If we cancel the contract and evict the renter, do we have to repay everything that he has spent?

rayesspot · Oct 24th, 2007, 08:09 PM

If we cancel the contract and evict the renter, do we have to repay everything he has spent?

able1 · Oct 26th, 2007, 06:55 PM

No---not if he has failed to abide by the terms of the agreement.

Oct 23rd, 2007, 04:45 PM	#1
rayesspot Junior Member Last Online: Oct 24th, 2007 08:13 PM Join Date: Oct 2007 Posts: 2	Buyer won't close In April, 2006, we signed a contract to sell our house to an "as is" buyer. He promised to pay-off the loan and give us $6,500. He did pay the mortgage off, and he gave us $500 up front. We never received a copy of the contract, and he is renting the property instead of closing with us. We need the money, can we do anything?

Oct 24th, 2007, 05:36 PM	#2
Law200 Top Level Member Last Online: Nov 16th, 2008 04:36 PM Join Date: Feb 2007 Posts: 303	Re: Buyer won't close You can cancel the contract if he has breached the agreements and evict his renter.

Oct 24th, 2007, 08:05 PM	#3
Unregistered Posts: n/a	Re: Buyer won't close If we cancel the contract and evict the renter, do we have to repay everything that he has spent?

Oct 24th, 2007, 08:09 PM	#4
rayesspot Junior Member Last Online: Oct 24th, 2007 08:13 PM Join Date: Oct 2007 Posts: 2	Re: Buyer won't close If we cancel the contract and evict the renter, do we have to repay everything he has spent?

Oct 26th, 2007, 06:55 PM	#5
able1 Top Level Member Last Online: Dec 27th, 2008 08:09 PM Join Date: Feb 2007 Posts: 723	Re: Buyer won't close No---not if he has failed to abide by the terms of the agreement.

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