Hi Everyone. I need some advice on where to go from here.
I made an offer on a house out of state. The offer was accepted, an Option to Purchase Agreement was signed by both parties, and the option fee was mailed to the seller.
I advertised the property, and now the problem is I cannot get in contact with the seller. He is not responding to my emails, nor answering/returning my calls like he had been previously. Seller's remorse? My guess is the folks that are contacting me from my house for sale ad, have since contacted the seller, and are now trying to cut me out of the deal. Seems pretty obvious.
Now, the thing is, I have a 45 day option on this property signed by myself, the seller, and his wife, giving me the exclusive right to purchase this house any time within the 45 day timeframe. There are still just over 30 days left on this contract, and my exit strategy was/is to assign it. I have a buyer ready to go, but he wants to see the inside of the property. The last time I had communication w/ the seller, he was putting a lock box on the house, but haven't heard from him since. I realize my mistake was not ensuring the lock box was on before I advertised, but what should I do at this point? Would I threaten to sue him for specific performance? Tell him I'm ready to exercise my right to purchase and see if he responds? Potential buyers are contacting me daily about the house, and want to get inside to see it.
Has anyone ever dealt with contract dispute/specific performance issues? Please advise.
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When you don't have more, you have to create more. - Cre8mour
Hi Everyone. I need some advice on where to go from here.
I made an offer on a house out of state. The offer was accepted, an Option to Purchase Agreement was signed by both parties, and the option fee was mailed to the seller.
I advertised the property, and now the problem is I cannot get in contact with the seller. He is not responding to my emails, nor answering/returning my calls like he had been previously. Seller's remorse? My guess is the folks that are contacting me from my house for sale ad, have since contacted the seller, and are now trying to cut me out of the deal. Seems pretty obvious.
Now, the thing is, I have a 45 day option on this property signed by myself, the seller, and his wife, giving me the exclusive right to purchase this house any time within the 45 day timeframe. There are still just over 30 days left on this contract, and my exit strategy was/is to assign it. I have a buyer ready to go, but he wants to see the inside of the property. The last time I had communication w/ the seller, he was putting a lock box on the house, but haven't heard from him since. I realize my mistake was not ensuring the lock box was on before I advertised, but what should I do at this point? Would I threaten to sue him for specific performance? Tell him I'm ready to exercise my right to purchase and see if he responds? Potential buyers are contacting me daily about the house, and want to get inside to see it.
Has anyone ever dealt with contract dispute/specific performance issues? Please advise.
When you don't have more, you have to create more. - Cre8mour