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 Irwin Law Your Own Question
Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7312
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
Type Your Real Estate Law Question Here...
Irwin Law is online now
A new question is answered every 9 seconds

I'm selling a house to a cash buy that, at the last minute,

Customer Question

I'm selling a house to a cash buy that, at the last minute, has said he will not but the house for the agreed price 535,00 but want to pay 500,000 now. He has stated that if we don't take his new offer he will walk. Not sure what to do.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Irwin Law replied 1 year ago.
Your rights and what you can do depends on what the purchase agreement says. Most purchase agreements provide for you to be able to keep the earnest money deposit if he walks. You may also be able to sue him for damages if you are unable to sell your home to someone else for at least $535,000. Some states permit a seller to sue for specific performance Which would require him to complete the purchase for the amount of his offer. This is an unusual remedy though, and it would take more time than I have to research whether or Oregon law permits it. I hope this is helpful. You should discuss this with an attorney if it comes to Past that your buyer backs out.
Expert:  Irwin Law replied 1 year ago.
I hope that you will enter a positive rating for my assistance here by clicking on 3, 4, or 5, for which there is no additional cost to you. Thanks again for using JUST ANSWER.
Expert:  Irwin Law replied 1 year ago.
I hope that this ANSWER is helpful and if you have no further questions, that you will now enter a positive rating so that I will be credited for assisting you. Thanks for using JUST ANSWER.

Related Real Estate Law Questions