Legal Question in Real Estate Law in Arizona
Sale of House in Arizona
We signed a contract to sell our home. We have not gone to closing which is scheduled for Nov. 7th, 2005. After er signed contract I have found out I need breast surgery. I don't want to sell my home now but buyers still want house. What do I do? What can they do to me. I don't want to leave AZ and the Dr's I have. Please help. If they backed out of contract I would only have had the earnest money of 2300.00 What are they entitled to? My realtor doesn't want a penny. Their realtor wants 6K. What am I up against? I'm so scared and depressed on top of the surgery I am facing. Do I have an out? What would of court of law do? Please help.
1 Answer from Attorneys
Re: Sale of House in Arizona
The real estate contract is enforceable by the buyer so long as they are not in breach of the contract themselves. They can seek specific performance and force you to sell, or they can seek damages for breach of contract.
You should be cognizant of the fact that the buyer has relied on the contract to arrange their life and make arrangements to move into their new house. Your surgery is not a legal excuse to avoid your duties and obligations under the contract.
There are some alternative agreements that could be made so that you can undergo your surgery and then move out on a timely basis and you would compensate the buyer for their inconvenience. For example, you could close escrow according to the contract and lease the house from the buyer for a short period of time.
What the buyer's broker wants is irrelevant. You should get immediate help to sit down with the buyers and work out a solution to meet the needs of both parties. I do not know if your broker is capable of doing this, if not, you should get someone who knows how to do this (like me).
You did not say if your surgery has been scheduled for a specific date. It seems that you can choose the date. So prompt action is required to minimize the damages and the costs to all parties.
I am suggesting that you put aside your emotional needs and work on resolving this now. That way, your mind will be relieved of this headache and you can concentrate on doing well with your surgery.
Sincerely,
Donald Scher