Legal Question in Real Estate Law in California

Withdrawal From Sell of Property

A buyer and I started the sale of property between ourselves. The buyer got qualified and a contract was drawn up. I have changed my mind and the escrow papers have not been signed. I was willing to work with the buyer on their down payment but have not drawn up paperwork to discuss the terms. The amount of the down payment is now more than I'm willing to carry so I don't want to go through with the deal. What if anything am I liable for.


Asked on 6/13/01, 4:34 pm

1 Answer from Attorneys
Norman Gregory Fernandez, Esq. The Law Offices of Norman Gregory Fernandez & Associates

Re: Withdrawal From Sell of Property

You stated that you signed a sells contract for real property. If this is the case you could be liable for Specific Performance, which means that a Court could force you to sell the property. In the alternative you could be held liable for all damages that resulted to the buyer for your failure to sale. If you are located in SoCal you may call me for a free consult at 818-998-1584

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Answered on 6/28/01, 1:28 pm


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