Q: We are in contract to sell our property. Title report shows more unexpected liens. Sale of property will not payoff
Buyer of property is ready to close. Of course we can not close property. Buyer has threatened to sue us. Is this possible if we don't perform?
A: It is possible that you might be sued. This is one remedy for a contract default. Review your contract for its provisions dealing with a seller default and buyer remedies. But a lawsuit is unlikely. Few buyers want to hire lawyers and file a lawsuit to try to purchase a home. It is common, however, for lawsuits to be threatened. This may be a negotiating opportunity. See if the buyer will pay enough additional for the home in order to pay off all the encumbrances. And, although they have no obligation to do so, sometimes the real estate agents will contribute some of their commissions to make the closing happen.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
