Q: We submitted an offer to purchase a home. The seller countered and all parties signed.
The seller is now saying the counter offer was a mistake. They want to void the contract even though everyone has signed. Can they void the contract?
A:
Dear Colorado Springs Realty Purchaser: The defense of "mistake" in the entering of a Contract For Sale is only valid if the mistake is: (A) mutual (both parties made a material mistake of fact - example: both parties believed the residence was a single family home and then they found out it was part of a condominium), or (B) if the mistake was unilateral by the Buyer but of such a significant and material nature that the sale has to be cancelled - example:
the Seller thought she/he was the title owner and then discovered that she/he was not the title owner and therefore lacked the capacity to contract). Instead, if your Seller merely got "cold feet" then you absolutely have the right to insist that the Seller go through with the sale. The steps for you to take, normally, would be: a Legal Demand Letter (by your counsel) demanding the Seller perform, and if that failed then a legal action for Specific Performance seeking a Court judgment that orders the title be transferred to you (after payment, of course). Please be mindful that most CO residential Purchase and Sale Contracts require mediation prior to litigation. James Greer [has law practice in Boulder CO and offers assistance in these types of claims; no legal advice intended as there is no attorney-client relationship formed by this response].
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