Seller wants out of contract-please help

**kian** · 10-22-2010, 02:02 PM

I am new here and really just need some more opinions. We have a contract on a home with 1.25 acres and no contincies attacthed. We are to close on Nov 16. The seller has decided they want more money and want out of the contract. They are moving out of state and we believe they found the prices much higher than expected.

We went on a property walk and she told us that the house and the lot is 1.25 and the back acre is not included, but we could buy it. We were all taken off guard with this and my agent showed her the county parcel map where the back acre is clearly marked with measurements showing 1.25 acres including the home. The seller is trying to pull a bait and switch.

She had the surveyor come out and he has not given us the official survey, we believe he is a family friend trying to help them. Now the seller wants out we believe to sell the back acre separate from the house for more money. The seller refuses to talk to her agent and has slammed the phone down on her saying she will contact a lawyer.

You will ask is this home worth it? Most certainly, it is a beautiful home and it took us nearly a year to find. Our agent and us have looked at other listings and there just isn't anything that meets our needs. I have dog boarding kennels and so it has to be a certain home and location. Our agent has never seen anything like this happen before, she has talked with her broker and has suggested the other agent do the same. The other agent seems really timid.

My question is: Isn't a seller bound to a contract when we have done everything in good faith? We are in New Mexico. Our agent gave us names of lawyers and would like to try mediation, but this seller isn't talking to anyone. They have fixed home inspector finds and we just need to send the appraiser, she won't let them in.
Any more ideas, thoughts or advice would be appreciated.

Thanks

**Greg** · 10-25-2010, 05:39 AM

The seller is obligated to sell you the house so get an attorney and have them explain the rules of the game to the seller. She threatened to get a lawyer so this tactic might mean something to her.

Be prepared to battle it out if she really doesn't want to sell. You might have to go to curt to make the sale happen. Before you go too far make sure your contract actually includes the extra acreage.

It sounds like she is having sellers remorse mixed in with some greed. A 'friend' who used to be a real estate agent probably gave her some advice.

One more thing. If you are short on funds to hire an attorney then this strategy might work.

If the house is listed in the MLS then the listing agent owes your buyers agent a commission even if it doesn't sell because of the seller. The terms in the MLS state that if a buyers agent brings a ready, willing and able buyer with terms agreeable to the seller then the buyers agent is owed a commission from the listing agent. If it doesn't close because of the seller then the listing agent has to pay it out of their own pocket. The listing agent has a listing contract with the seller with the same terms except it obligates the seller to pay the listing agent if the seller doesn't close.

What this means to you is your agent can light a fire under the listing agent by demanding their buyers agent share of the commission. When the listing agent and their company realize they are going to have to personally come up with the money it will force them to be more forceful with the seller. I have had this happen to me twice and both times the listing agents told me I was wrong and then they checked up on the rules and then they had a heart to heart with their sellers and the deals closed. Once the seller realizes it is going to cost them to NOT sell, they usually change their tunes.

Good luck.

**kian** · 10-27-2010, 09:35 AM

Thank you Greg, I did forward to my agent and her response was she wished she could forward it to the listing agent. We have appt with a lawyer, fingers crossed.