Posted by Dave-WA on September 24, 2003 at 18:16:30:
If they do call back, Doc recently had a good idea in a case like this.
Too bad Duke had to use “most” of the money to purchase a different home. Now he will have to offer the seller a lower price for the home that they now want to sell him.
Bad for them but good for Duke.
Seller Defaults of Purchase Agreement - Posted by Duke(CA)
Posted by Duke(CA) on September 24, 2003 at 09:24:03:
Wondering what others have done in htis situation.
On Sunday had a seller sign a lonnie purchase agreement. I gave her a small deposit, did not get the title though. On Monday she calls my home and leaves a voice message to tell me she has to back out of the agreement due to some emergency in her family. Now I;m wondering if I should try to enforce the agreement or maybe let it go since I did not get the title at the time of the agreement signing.
Any suggestions?
Good way to end emergencies like this. - Posted by Dr. Craig Whisler CA NV
Posted by Dr. Craig Whisler CA NV on September 24, 2003 at 23:23:19:
Call her bluff.
Discuss it with the PM, since you presumably got on good terms with him or her before you made your offer. Tell him what happened and ask him to notify you immediately if the seller tries to sell to someone else and get them qualified to rent in the park. Also ask the name and phone number of the new prospective buyer. Phone the other buyer and tell him that you have a contract to buy the mobile already (offer to send him a photocopy, by REGISTERED MAIL so you will have some proof that he had prior knowledge of your preexisting contract.) then say that if they buy it they would just be buying into litigation. Intentional interference with your business relationship with the seller wouold likely be an actionable tort in most jurisdictions. Tell them that’s what your attorney told you. Ask if that is what they want, to get involved in this lawsuit? Maybe they will get scared and back out if you can BS well enough. If this happens just once, it may be enough to end the seller’s family emergency, and breathe new life into your $3k-4k profit.
Don’t give up if it is a good deal that you have a $3k-4k profit in.
Its YOUR money, Duke, put up your dukes and fight for it.
I’d fight hard for $4k, especially if I didn’t have any other deals going. This could be a real easy battle, once the seller realizes you aren’t a creampuff. You aren’t are you?
It won’t pay you to try to enforce your contract in court but a short talk with the PM, and a simple phone call and letter to the next buyer won’t cost you anything in terms of time or money. This may be all that is needed.
I would wait a while before accepting the deposit back, especially if it is real small. Even if you do accept it back, tell her you are doing so under protest and that you are not releasing her from her agreement by doing so.
I’d also say, “I’m real sory about your family emergency, Its no problem for me to wait until it is over.” Call her bluff again.
Its good to know when to the best approach would be fight, flight, or to act in spite.
Why not wait and see what she does in Act ll, before you call it curtains.
If it is free, doesn’t hurt, or cause pimples, I’d try it.
Regards, doc
Re: Seller Defaults of Purchase Agreement - Posted by Duke(CA)
Posted by Duke(CA) on September 24, 2003 at 10:25:50:
Thanks all for your comments. (I read the link as well Steve) I’ll move on after she gives me back my deposit.
Re: Seller Defaults of Purchase Agreement - Posted by Lyal
Posted by Lyal on September 24, 2003 at 10:06:39:
In general it’s not worth the time and expense of “enforcing” the agreement. Get your deposit back and move on. Too many deals out there to spend time on this. Who knows if you do it with a smile, when the family emergency passes you may get another phone call.
All the best, Lyal
emergency in the family is prob BS - Posted by Steve-WA
Posted by Steve-WA on September 24, 2003 at 10:06:28:
Get your deposit back, and let it go.
Not worth the trouble or expense to enforce the legally binding contract.
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