Real Estate Law
Have Real Estate Law Questions? Ask a Real Estate Lawyer.
Welcome and thank you for your question. I will be the professional that will be assisting you.
The issue for the seller is the purchaser would need to breach a provision of the contract or ask for an extension that you do not need to grant. Is the purchaser using lender financing?
Have they been approved for a mortgage?
I understand the situation I just want to find a way that you would not get sued.
One out is if the purchaser needs additional time and you refuse to grant it and terminate the contract. THey were approved early for the mortgage Is the approval unconditional?
Is there a realtor involved that listed your property?
The other option is the Purchaser can agree to a termination provided they are reimbursed for their costs or you just back out and see if they sue for specific performance.
Between us the realtor should not offer legal advice. That being said you want to make sure the realtor does not sue for their commission as well.
The ideal situation would be to work out a settlement and walk away with all parties signing off and agreeing to pursue any action against you.
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Pursuant to the terms of service of the site the Attorneys cannot enter into an Attorney/Client relationship with the customers. That being said I can provide information and a local attorney that provides FREE consultations.
Where are you located so I can provide a link for a local Attorney that provides FREE consultations. They can write up a settlement agreement that will cover any potential for a lawsuit against you.
Where in New Jersey are you located?
There is no live call. Would you like to provide a link for local real estate attorneys?
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