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    Re: realestate contract

    Posted by sharwinston on 4/18/06

    Find your contract and read it very, very carefully.
    If you were given an extended performance date of April 28,
    2006, then you cannot possibly be in breach. Out of an
    abundance of caution, you need to take your contract and all
    related documents with you to an attorney and have the
    attorney tell you what your legal rights & obligations are.

    If you agreed to close on April 28, you have until April 28 to
    perform the contract. If you do not sell your house,
    generally, the worst than can happen is you lose your earnest
    money (deposit). Again, you should consult an attorney in
    your state who can tell you what your rights and obligations
    are after reading the contract and written documents.

    fwiw: I can't imagine why you would agree to such a contract
    when you have a home to sell before you can buy the other one
    AND the buyer would not make it contingent on your selling
    your home. Why take such a risk without a contingency clause!

    On 4/12/06, margaret m kubick wrote:
    > my husband and i bought a house in illinois in feb. 2006.
    > she accepted the offer. we gave a 1000 dollar deposit. she
    > would not go with a contingency. the closing date was
    > april. 6. we did not sell our house at that time, so i
    > called agent and told her. she contacted the other agent
    > and client and they extended until april 28. it is april 14
    > and we still have not sold. we were paying cash not a loan.
    > the agent knew we were using the proceeds from our house to
    > purchase other home. we are very stressful now and do not
    > know what to do. the other client is talking to a attorney
    > friend saying we are in breach of the contract and is going
    > to take legal action. what can you suggest we can do.
    > please e-mail me. thank you so much. margaret

    Posts on this thread, including this one
  • realestate contract, 4/12/06, by margaret m kubick.
  • Re: realestate contract, 4/18/06, by sharwinston.

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