Seller backing out of condo sale

[kccarlson]

I just finished signing a real estate contract to buy a condo in Bellingham Washington. I was just informed the seller no longer wants to sell. Can he just back out, or does he have to sell as long as I fullfill my part of the contract?

[Malok]

Depends on the terms of your contract.


Typically, if the buyer doesn't come back with anything that re-opens negotiations (like repair requests, etc), & fulfills all of their obligations in accordance with the contract, a seller can be required to sell. Though if they really want to pains in the rear end, they can still refuse to physically sign the paperwork - and then you have to take them task for specific performance through the courts to "force" them to comply.

[IggysListing]

Specific performance, though a legal remedy, isn't guaranteed.
In NC the courts are hesitant to force someone out of a owner occupied
house.

[Codythebest]

You really can't tell without to see the contract's terms....

[Honeycomb Properties]

Do you know why the seller no longer wants to sell?

The key phrase here is- "specific performance" which mean legally forcing the party to follow through with the contract.

If you have a legally binding contract between a buyer and seller, then yes- you can go to court and have the courts force the seller to sell via "specific performance" or at least obtain damages etc.

It will come down to the contract, the situation of all involved, and the individual judge's decision.

[Greg]

If all you have done is sign a contract then your best and cheapest action would be to find another property. Courts are expensive.

[Rich_in_CT]

In a hot market where inventory is slim if you negotiated a stellar deal on a great house I would take it to court. If the market is down, houses aren't moving and the inventory gives you tons of choices that you like and can afford I would just walk away from the deal. Maybe talk to them and extort a few grand to walk, mention that you CAN and WILL take them to court for specific performance and they might toss you a few K to go away.