Legal Question in Real Estate Law in Massachusetts
Seller in breach of contract looking to terminate the deal.
Property was offered by the seller with no realtors. The seller had found a new home to purchase and was selling their current home. A valid P & S was signed with a seller in May to close on the property in August. Since then, the seller has not fully disclosed information and has persisted that I back out of the deal without compensation. I have sold my residence and would incur substantial loss (in higher interest rates and increased market adjustments) to purchase new home. The seller has opted to extend the closing 30 days (by right) but has continually denied any access to the property (including a day before walk through). Seeing I will not purchase the property without a walkthrough, what is my recourse by the seller's continual breach in contract? The seller's personal property is in a trust, if I sue, what/how will I collect? Also how does this get compounded if the seller foolishly declares bankruptcy to avoid paying me any settlement costs awarded me by the courts?
2 Answers from Attorneys
Re: Seller in breach of contract looking to terminate the deal.
If you have a right to a walk-through via the P & S, you can get an injunction and have your walk-through. If you are sure that you want the place, take it without the walk-through.
What are you worried about them hiding their assets for? They have a house to attach!
What city or town is this in? Why don't you write to me directly or call me if you're in Eastern Mass. (617) 527-0050 or [email protected] but fax a copy of the P&S (617)527-1763 FIRST.
Re: Seller in breach of contract looking to terminate the deal.
By the way, re: "sellers have an option to extend the closing (by right)" you should be getting some legal advice; the legal right may not be what it seems to seem to be to you!
Again, fax me the P & S for starters.
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