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What to do if seller wants to cancel a signed contract?
I signed a contract to buy my first house, seller also signed. One week later, list agent called me that seller wanted to withdraw from this contract, no written so far. (FYI, I don't have agent.)
I live in Washington State, the contract is the standard one used in this state, the only coningencies with the contract are: inspection and financial.
We really like the house, we are looking around over a year already.
Your opinions are very much appreciated.
It's time you got a lawyer, as you'll find it difficult to enforce your rights on your own.
To understand your position, you need to understand the difference between "legal title" and "equitable title".
Legal title is when your name is on a valid deed, and if your state requires it, that deed is recorded.
Equitable title is when you have the right to receive legal title.
You have equitable title now, if your contract is valid, and you keep the promises (pay the price by the date specified.)
In other words, you CAN force the seller to go through with the contract as written. The relief you'd be asking for in court is "specific performance".
I don't know if your state observes that, but most do tend to force sellers to live up to their contracts. Not buyers, they don't force people to buy, but buyers that wrongfully back out have to pay damages.
Anyway, get a lawyer and you can force her to sell. Be prepared for it to get ugly, though.
ATH Mykkele Thompson #2 *SIGNED LOI TO TEXAS* SA Stevens HS (SR Highlights)