Legal Question in Real Estate Law in Hawaii

Owner Carry and Subsequent Possible Eviction

My wife and I entered into a contract to purchase a home from a private party (sellers). The sellers were represented by a real estate agent and the contract was an ''Owner Will Carry''. We deposited $2,000.00 into an account of the Sellers, and opened an escrow account with $500.00 additional monies. $1,000.00 of the initial $2,000.00 was considered ''good faith'' money, the other $1,000.00 was to be used for the first months rent, and we were to close the deal ($25,000.00) once I received a Workers Compensation Settlement I had coming within approximately two months of our entering into the contract.

Unfortunately, I received the settlement 5 days after the closing date stated in the contact. My wife and I still went in to sign all of the paperwork and to provide the $25,000.00 cash agreed upon in the contract, but the Sellers had changed their mind and decided that they no longer wanted to go through with the deal. We recently found out that they had since talked to another real estate agent who insists that they can get far more money if they list the home with him/her.

My question is this; Can we force the Sellers into proceeding with the contract, as agreed on, even though we were five days late in being able to close?


Asked on 5/23/02, 2:37 pm

1 Answer from Attorneys
Jon Zahaby Tour bus, scenic and sightseeing, operation

Re: Owner Carry and Subsequent Possible Eviction

Did anything in the DROA refer to the Workers Comp. settlement? In other words, was the deal known to be contingent on the settlement by both parties?

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Answered on 5/23/02, 3:59 pm


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