Q: Can a seller ask for more $ even after signing a Purchase Agreement? Can an escalation clause be triggered post signing?
There was an escalation clause that the seller didn't activate. 5 days later, the listing agent is demanding that we meet the escalation clause in that there was another offer, and has stated, that we must pay them the money now. The seller and the listing agent however, signed and dated the accepted Purchase Agreement at the list price. They did not provide any other legally signed and dated offers. They sent us a 1 page 'offer' that was not dated 5 days after the fact. In addition, they are now refusing to answer our requests for access to the property and run the risk of not having our inspections completed within the contingency allotted time of 10 days. Do we have recourse?
A: You need to read your contract more closely. What are the liquidated damages for your breach? Earnest Money involved? Besides the latter, the seller might be able to sue your specific performance. But it is going to be hard collect on a judgment in
Washington. Hire a lawyer to read tour contract.
A: You need to read your contract more closely. What are the liquidated damages for your breach? Earnest Money involved? Besides the latter, the seller might be able to sue your specific performance. With the so called "escalation clause" it may not be an enforceable contract. But it is going to be hard collect on a judgment in
Washington. Hire a lawyer to read your contract.
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