Legal Question in Real Estate Law in Florida
seller/buyer contract
My parents are selling their home and accepted an offer. They entered into a contract with a lady with one contengency- she sell her home. She is to give a thirty day notice after selling her home for my parents to move out. However, my parents realtor called and the woman decided to take her home off the market and not move. My question then is can she simply back out of the contract without any stipulations or cost to my parents? I realize she did not sell her home but can she take it off the market and have the contract be void?
Thank you,
Amanda
4 Answers from Attorneys
Re: seller/buyer contract
It depends on the terms and conditions of the written agreement. Without reading it, I cannot give you any meaningful guidance. If you wish to discuss this matter further, please feel free to call my office.
Re: seller/buyer contract
Based on the facts that you have provided and without reading the contract there are cases that have been decided that are simillar.
You see, contracts generally have what is called an implied covenant that each party will act in "good-faith and with fair dealings." The buyer has an implied duty to use reasonable efforts to attempt to sell her house. By taking her house off the market she may have breached the contract with your parents.
If you would like further advice then you will need to contact me and provide me with a copy of the contract.
Yours Truly,
Randall L. Gilbert, Esq.
Re: seller/buyer contract
An attorney would have to read the contract to advise your parents rights. Call me if you want to discuss further.
Re: seller/buyer contract
At first blush I would have to agree that the Buyer cannot simply withdraw the property from the market, however, I would never given an opinion without reviewing the terms and conditions of the Contract for Sale and Purchase first. I suggest that your parents consult a local real estate attorney to determine what their rights and the Buyer's obligations may be. Please remember that when it comes to real estate, Florida law requires that in order to be binding, all terms of the agreement must be in writing otherwise it will not be enforced.
Scott R. Jay, Esq., 305-249-8000
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