Home Forums Hunting & Shooting Hunter's Campfire Land deal gone bad at closing options??

too much weird goin' on

any deal in which you don't know what's gonna happen is a bad deal

Makes no difference.. just an attempt to figure the reason the seller reneged. Could it have been a ridiculous offer. Comparable to sales in the area or a lowball offer?

This is getting real fishy.

Wife is an atty? Does she know of this chatter?

Actually, would like to hear both sides.

I don't think so. From the get-go he told the buyer to stay off the property. He's been loony from the start.

The first thing I learned in real estate law was that every place has different laws.

How the buy/sell was written will control what his options are. All lawyers are not good in Real estate law.

Courts in my experience are reluctant to award big damages. Most buy/sell agreements only grant return of earnest money to buyers when sellers fail to preform.

Likewise a seller is able to keep the earnest money if a buyer fails to preform.

The rest of the story is you can file a lawsuit if you are wronged. But again laws are different in different places.

Well sure. So in the typical case what have you got on breach? Rescission, damages if you can find any, or let it slide. And if material damages are a possibility it should be in the contract as liquidated damages. Such as the down payment (consideration for the sales contract) typically being nonrefundable. (And I can hear it now. The aggrieved and butt-hurt party screaming for specific performance.)

That's my take

I hope this works out for you OP. This has been a lesson for me.

And maybe, just maybe, his wife was bit by a tick, wasn't up for 'company' of any sort, and everyone will show up Monday, and the deal will close!!!!

Any indication that they are packing and about to move, since they will be vacating the premises........ tomorrow???

Damn, good luck to you, hope it pans out, that said, anyone that laughs in my face from a friendly request/offer/inquiry is forever dead to me, I wouldn't piss in his butt if his guts were on fire, at that point i don't care what they own, would look elsewhere, and certainly wouldn't have left a contact number.

Again, good luck to you.

Does the seller have to immediately vacate ? If so they may not be completely packed and panicked. They may have put off the closing to buy time instead of just asking you for a couple extra days to get out. People do stupid things under pressure.

NO they still will live in their house for 6 months. There house is still on 100 acres he didnt sell. They sold me the land across from it.

The people they bought their new place from have 6 months to lease the place after they close at the end of the month as they are moving and their new house wont be done for 3 to 4 months. But they need my money and the money from the other place to pay cash for it now.

I think her mental thing is also she has to wait 6 months before she gets what she wants. The only way he could buy what he wanted was the 6 month lease after they closed. HE bought it now because he said if they got to a realtor it would cost $750k.

If you have a legal and signed sales agreement, then you do "own" the property, you should have went to the closing , payed the agreed on money and the taxes owed, which is 1 % here in PA to the attorney and left, you need to be sure and meet "all of your obligations" , they will sign off or be forced to by a judge, the rest are just formalities . Enjoy your new place.

If they force litigation, the judge will take the money out of the sellers share of the cash if they again fail to sign .

No, you dont own the property until title is vested in your name. Then and not till then do you own the property.

I paid everything and signed everything including auto withdraw from my bank account each month, but here until they both sign it doesnt mean squat. They have to sign the sale of the deed and receive the check for it to be legal according to the title company.

Couple of complete lunatics. The best deals like this always are, why the hell is that?

If I'm peeling out over 100K for anything I want to be able to walk it al least once BY MYSELF. Screw the babysitter stuff.
I hope things work out for you, but I'm doubtful with the ball-less husband and space cadet wife.

Like I said before.

You need to learn how to get and file a Lis pendens when you get a contract signed with a seller. That should always be part of your package that the seller signs, along with your contract.

IME, Sellers will often try to back out of a really good deal you've made as a buyer.

The Lis pendens protects you from that or at least gets you compensated for your time and trouble..

I hope it goes well.. But don't count on any 'title company' to help you out if it doesn't. All they do is collect money... NOTHING else.. BTDT...

Well I guess he calmed her crazy arse down and they signed the closing paperwork this morning so the deal got done. Almost drove me to drinking!!!!!!!!!!!!

Huzzah!
I'm happy for you.

Glad to hear it H5.

Been through the same situation myself and while it did work out it, wasn't without some stress.