Q: I've been trying to purchase a piece of property in town, buyer is thinking about backing out.
I've been trying to purchase a piece of property in town for going on 7 months now. We have had extension after extension because of some title work. Come to find out the seller isnt the sole owner of the property. The other owner is tempted not to sell to us and wants to sell the property to what I believe is a family friend of theirs (according to the realtor). Can I sue for backing out of the purchasing agreement? Is it even worth my time after I pay a lawyer? (PS. Cost of the property was $20,000)
A: If you want a lawsuit to make the owner(s) sell the property, then I do not think a suit for specific performance is going to get you there unless you have all of the owners sign the purchase agreement or you can prove that the owner who did sign the purchase agreement had authority to sell the entire property. That is, you do not have an agreement with the owner who did not sign the purchase agreement and the owner who did sign can only sell his 1/2 interest. All this stated, any attorney who might represent you would want to see the paperwork signed before giving a more informed opinion and I would too.
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