How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Roger Your Own Question

Roger
Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 26096
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by West
Type Your Real Estate Law Question Here...
Roger is online now
A new question is answered every 9 seconds

We are currently in the process of trying to close on selling

Resolved Question:

We are currently in the process of trying to close on selling our house. After the appraisal and all the fees added in, long story short we have to bring 12,000 to closing. We at first thought we would be able to cover it, but we can't even get a loan to cover everything due to all our other current loans. Both realtors said they would take cuts on their commissions so we could atleast close and we could pay them on a monthly basis. After reviewing our personal finances we found that this was going to financially cripple us and we talked it over and just wanted to back out of the deal. Now we are being threatened with still having to pay commissions and possibly being sued into selling our home anyway. We are beyond frustrated and feel as though we have no rights here. Its not like we don't want to sell and changed our minds, we just cant afford an extra 12000.00 dollars at this point. We appealed to the buyer for help, and he would not contribute anything.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Roger replied 1 year ago.
Hi - my name is XXXXX XXXXX X'X a Real Estate litigation attorney. Thanks for your question.

Unfortunately, if you agreed to the sale and to paying the $12000 at closing, the buyer can sue you for breach of contract and even for specific performance, which will require you to perform your obligations under the contract.

Thus, there is legal exposure to you for failing to fulfill the contract. If the buyer were to sue, it could seek damages for the money or expenses incurred, and also for any other money or loss that the buyer incurred.

In a situation like this, you are really better off working out a way to pay this obligation instead of breaching the agreement and being sued.

I can understand that this is a difficult situation, but if you agreed to pay this money, you can be legally held to that promise.
Customer: replied 1 year ago.

I expect to pay the buyer for all he has tied up thus far...inspection, repairs and so on. Would that make the situation any better? Just after reviewing all our finances it is making it financially impossible to get out of our home and be able to make it with all the extra debt we are racking up. As much as we want to. We feel like we are being pushed into a situation that will really hurt us financially. I know we agreed to it, but we have been turned down every where we turn for a loan

Expert:  Roger replied 1 year ago.
I can certainly understand your concerns, and I can see why you have reservations about going forward.

If you are willing to offer the buyer any out of pocket expenses in order to make things right, the buyer certainly can accept that and agree to cancel the agreement and walk away from the contract and forgo any further claims against you. However, this will be something that you'll have to try and work out/negotiate with the buyer.

If you can reach a deal with the buyer, and avoid being sued, that will certainly help your situation greatly. Any time you're the party that breaches an agreement, it is time to perform damage control and try to work out a deal with the buyer to resolve the issue. If you're willing to compensate the buyer for any incurred expenses, that should certainly help you in this endeavor.
Customer: replied 1 year ago.

One more question, we were also told that we may have to pay the realtors comissions if we breeched contract. Is that possible, can they really go to the extent of forcing us to pay them? Is that a typical thing?

Expert:  Roger replied 1 year ago.
Yes, it is possible for the realtor/s to sue for the lost commission, but there could also be an out for you under the contract. Often, realtor contracts have language that says commission is only due if the loan closes, etc., so you would need to review the agreement to see if there's any clause that may give you some right to challenge.

Thus, you do have exposure -- unless the contract gives you some relief.
Expert:  Roger replied 1 year ago.
Hi

Please let me know if you have any additional questions related to this issue. Also, please positively rate our conversation so that I may receive credit for my research and response.

Thanks,

Kirk
Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 26096
Experience: BV Rated by Martindale-Hubbell; SuperLawyer rating by West
Roger and 6 other Real Estate Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • Tina

    Lawyer

    Satisfied Customers:

    4813
    16 years of legal experience including real estate law.
< Last | Next >
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    4813
    16 years of legal experience including real estate law.
  • http://ww2.justanswer.com/uploads/LA/lawpro/2012-6-25_171315_PT206740s.64x64.jpg Law Pro's Avatar

    Law Pro

    Lawyer

    Satisfied Customers:

    6227
    20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
  • http://ww2.justanswer.com/uploads/BA/barristerinky/2012-6-10_22423_office.64x64.jpg Barrister's Avatar

    Barrister

    Lawyer

    Satisfied Customers:

    4966
    13 years real estate, Realtor. Landlord 24+ years
  • http://ww2.justanswer.com/uploads/LA/LawTalk/2012-6-6_17379_LawTalk.64x64.JPG LawTalk's Avatar

    LawTalk

    Attorney

    Satisfied Customers:

    4446
    I've more than 27 years legal experience. Additionally, in CA I held a Real Estate Broker's license.
  • http://ww2.justanswer.com/uploads/RA/rayanswers/2012-6-7_23346_Untitled1.64x64.jpg Ray's Avatar

    Ray

    Lawyer

    Satisfied Customers:

    4030
    Texas Attorney for 29 years dealing in real estate
  • http://ww2.justanswer.com/uploads/PH/philip.simmons/2012-6-7_161915_BIGPhilipSimmons.64x64.jpg P. Simmons's Avatar

    P. Simmons

    Lawyer

    Satisfied Customers:

    2377
    12+ yrs. of experience including real estate law.
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    2355
    B.A.; M.B.A.; J.D.