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Author Topic: Purchase and sale agreement question.  (Read 1276 times)

Offline Dwaynex

  • Member
  • *
  • Posts: 38
    • Tennessee Real Estate Deals
Purchase and sale agreement question.
« on: October 28, 2009, 01:46:04 am »
If I have a signed purchase and sale agreement for a price is it possible to be sewed if I don’t want complete the transaction?

Here the story:
 I have a seller that is threatening me with legal action if I don’t submit a Hud 1 document or pay his last month’s mortgage. I know I would lose money on the property if I bought it at this price and the seller does not want to re-negotiate with me. I really don’t want to pay his mortgage or buy his house but I really don’t want to go to court over something as silly as this too. Any legal advice would help too.
Best Regards
Wayne Woodson
Nashville Real Estate Investor
Tennessee Real Estate Deals

Offline hassansr

  • Member
  • ****
  • Posts: 627
    • TBD Investing Company
Re: Purchase and sale agreement question.
« Reply #1 on: October 28, 2009, 08:16:55 am »
odds are you are not going to get sued; dont let seller bully you.

 If you can't close and you had it stated in your contract, the earnest money you deposited or committed should be all that you have at risk
Hassan Omar
Shortsales & Wholesaling
www.shortsalehud-1.com

 




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