Monday, July 21, 2008

Specific Performance, Can I Sue?

Question:
would you please make a blog post on specific performance, i currently have a buyer who is changing their minds about a listing, and i would love to have my lawyer send them a letter if nothing else just pretending that i am going to go after specific performance.... have you ever tried this? Best; Ted, Realtor
Reply:
Hey Ted,
Disclaimer: I am not a lawyer.
I'd love to give you advice, but this really is a legal matter that you would have to engage a lawyer for. My understanding is that you can sue and make the seller sell their place to you at your agreed upon contract. But you better make sure your contract is iron clad. I could give some examples on how to get out of a contract, but I don't want to encourage people doing that. You might also read your contract and see what it says about legal fees in the event of a dispute. Also ask your lawyer if you can go after the brokerage to receive your commission.
Good luck
Frank

1 comment:

morrillt said...

i am the selling agent / owner of the property, and commissions are irrelevant. I understand you are not a lawyer. SO it would seem that you have never gone after specific performance for any of your clients, would that be correct? Was looking for some stories :)

Ted