All Topics / The Treasure Chest / Legal questions for Selling

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of HueyHuey
    Participant
    @huey
    Join Date: 2003
    Post Count: 213
    August 28, 2003 - 7:58 am

    Hi all,

    If I accept an offer with a deposit for my property & for some reasons accept another offer later on. If I proceed with the 2nd buyer can the 1st buyer sue me? [:(]

    Your advice will be most appreciated.

    Regards

    Huey

    Profile photo of PandorraPandorra
    Member
    @pandorra
    Join Date: 2003
    Post Count: 3
    August 28, 2003 - 8:34 am

    Depends what state you are in, but most likely, YES!!!!

    Be very carefull with this one.

    If the first offer is not subject to anything, then they definately can sure you unless they default themselves. Thats the whole point of having a contract.

    If the offer is subject to conditions, eg, finance, and there is an expiry date on the finance clause, and they do not perform, (ie, finance approval from their lender has not come in) then you may be able to refuse and extension of finance request. It really all depends on so many variables, like how the contract is written up in the first place. Speak to your solicitor.

    Good Luck with it.

    Profile photo of HueyHuey
    Participant
    @huey
    Join Date: 2003
    Post Count: 213
    August 28, 2003 - 9:19 am

    Hi Pandorra,

    I haven’t sign any contract yet. I only signed deposit receipts.

    Thanks

    Huey

Viewing 3 posts - 1 through 3 (of 3 total)

The topic ‘Legal questions for Selling’ is closed to new replies.