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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33761
Experience:  15 years real estate, Realtor. Landlord 26 years
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I put up my home in California and we got an all cash offer

Customer Question

I put up my home for sale in California and we got an all cash offer after 12 days that was accepted. My husband and I signed all the paperwork except for the closing papers at the title company. We've lived in this home for 20+ years and after thinking about it we've been having second thoughts about selling.
My question is can we refuse to sell the home at this point and if so what would legally happen?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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Ok, to be very honest, you wouldn't have any legal grounds to avoid the contract if the buyer wanted to force it.

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However, you can simply breach the contract by sending notice to the buyer that you will not perform under the contract to sell the house. At that point, the buyer has a few options.

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They can simply agree to terminate the contract and get their earnest money back. They can file suit for any damages that they have incurred and agree to terminate the contract. Or they can file suit for "specific performance" to try to force the sale to go through.

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The least common option is the lawsuit for specific performance because that could tie the property up for close to a year before it ever got to court for the suit and most buyers don't want to incur the costs and time involved in filing suit and dragging things out for a year. The most common option is for them to file suit for their damages and then agree to terminate.

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So if you were to notify them that you will compensate them for any money expended to date on the purchase and you both agree to terminate, then they may well agree to do so rather than go through the lengthy process of filing suit to force the sale to go through.

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thanks

Barrister

Customer: replied 1 year ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Barrister replied 1 year ago.

I am sorry, but I can’t engage in a private one on one phone call as that could imply an attorney-client relationship which I am prohibited from entering into under my independent contractor agreement with JustAnswer.

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But if you have further questions, I will be happy to work with you on them here on JustAnswer's public website...

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thanks

Barrister

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