Seller Backing Out in Last Minute

General Real Estate Investing
1

Hi, I am in an odd situation. Less than a week left for closing, the seller is getting cold feet and is talking about not going through with the transaction. This is after the property has been on the market for almost a year and I’ve been working hard to accomondate the seller and have a smooth transaction. If the seller choose to not go through with the property sell (this close to closing) what recourse, if any, do I have to force the sell? Or, what recourse do I have in general. The Single Family Home property is in Tennessee.

Thanks,
IPR

2

your recouse depends on the wording of the contract, a judge’s ruling and other factors I suppose.

make sure you have an affadavit or memorandum recorded against the property. this will cloud the title.

see if your contract has an arbitration clause and a clause regarding default.

good luck,
lance

3

how did this work out?