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I would like to know what my sellers' contractual

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Hello! I would like to...
Hello! I would like to know what my sellers' contractual obligation's are, as we are involved in a very contentious escrow. Only the inspection and appraisal contingencies have been removed. We are 15 days into the escrow and found out last week they want to close early. The 9A report is not in yet however and selling agent's brokerage won't close without. They want my clients to sign an indemnity agreement so they can close early without the 9A...which I have advised my clients not to do. Especially, since the indemnity language states sellers want to close early and release all parties of liability. This is not the truth, nor the case. The buyers side wants to close early, as the buyer is living in a hotel and naturally wants to move in sooner, than later. The selling agent has been completely unprofessional throughout this escrow so far, with his insulting & threatening texts and emails when my clients won't agree to something. Today, the buyer's daughter accompanied her father and agent w/ other family members during our final walk-through (which turned out to be a necessary due to the 9A issue now). She too was hurling insults left and right questioning me as if she was the buyer or my client. Also asking me how my pain in the ass clients were, and while we were wasting their time, etc. When I told her I thought best that I communicate only to the agent or his actual client (her father)… She threatened me in a very loud voice stating "I'm his attorney and you MAY be dealing with me when this is over! " I have never returned an insult nor a threat to either the agent for her as I am trying to keep this professional and I've asked the agent on a couple of occasions to please do so. Only to be met with further insights. The whole contentious scenario started shortly after we opened escrow & has become only worse as time goes on. I told my clients everything that happened and was said today, and four good reason my clients feel this is going to be a nightmare after we close escrow. And they would like out. I told them the only thing we can do is to hit them with a notice to perform to release the remainder of their contingencies (which are due tomorrow). But also explained, if they do sign off, we are pretty much stuck with them to close this escrow. They just feel they're going to be sued left and right for any little thing this "daughter" can find… Even though this is a very extensive remodel with additional square footage etc. All permitted of course. We just feel she is going to try to make our life a nightmare after we close escrow. Do you have any advice or suggestions of how we can legally exit this contract as the insinuations and direct texts (even from the agent) have suggested legal and/or future litigious problems .... With no grounds or basis. Simply because they don't feel we move fast enough and sign off on everything they ask us to sign off on an agreed to everything they want us to agree to. Believe it or not, the buyer himself has been very kind each time He's been around… But he too can be a hot head, as I've seen him scream at his agent in front of me during the initial inspection. Thank you so much for your help! Stacee Passen, Sandlot Homes
Submitted: 1 year ago.Category: Real Estate Law
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4/13/2016
Real Estate Lawyer: Richard, Lawyer replied 1 year ago
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55,791
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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Good evening Stacee. My name is ***** ***** I look forward to helping you. Buyer's like this can be very very difficult for sure! You can approach this one of two ways. One, you can simply terminate the contract by notifying the buyer of the termination and returning the deposit. Going this route, you would have some risk..that risk being: i) the buyer suing for damages...such as any costs incurred in connection with the purchase of the property and if the contract provides for specific performance, the buyer suing to force you to sell. But, buyers rarely pursue the specific performance option even if granted in the contract. Two, your seller has absolutely no legal obligation to agree to anything not specifically stated in the original contract. So, since almost all real estate transactions have issues...inspections, title issues, appraisal, financing, etc. You can simply say no to everything the buyer requests and not agree to anything they are proposing, including any early close, and pretty much make the process so unbearable the buyer terminates. In that case, you would have no liability. In my experience. buyers rarely pursue suits...they are interested in buying a house and don't want to get caught up in time-consuming and expensive litigation. Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!
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Richard
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55,791
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Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.

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