Legal Question in Real Estate Law in Michigan

Seller wants to terminate contract

I am a seller:

I raccepted an offer on my home May 31

The closing date is to be June 30. Upon starting to pack, my children became upset and we decided we didn't want to move.

In addition, we discovered that because of our bad credit - we cannot get a decent enough mortgage for the type of home we prefer.

We sent an adendum to the buyer June 6 requesting termination and they sent us a letter from their attorney today (dated June 9)threatening lawsuit if we did not comply with the original terms of the purchase agreement.

Another bit of info is that the Buyer's contacted us personally at home May 31 and offered $6,000 more than another offer we were at that time considering - they then had their agent send an official offer to our agent and we finalized as normal.

Also, I forged my husbands signature with his consent on the contract becuase he was out of town - at the time we wanted to accept ASAP.

Does any of this clear us from responsibility? What can we do?


Asked on 6/10/08, 1:49 pm

1 Answer from Attorneys
Timothy Klisz Klisz Law Office, PLLC

Re: Seller wants to terminate contract

you can be sued for specific performance of a contract. I would read your purchase agreement very carefully. Especially the default provisions. Contact me to discuss further. Tim Klisz. www.kliszlaw.com

Read more
Answered on 6/10/08, 1:59 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Michigan