Legal Question in Real Estate Law in Michigan
We are selling our house by owner and we had a real estate contract with contingency of "Subject to purchaser's verification fo new employment by April 29, 2011". He did not receive this verification and we would like to take a different offer on our house as it is for more money. Can we proceed with other offer? Real estate agent who drew up contract says it is still binding despite contingency not being met since it does NOT say contract will be null & void if not met. They do still want to buy house but we would like to take better offer as contingency was not met. He says he will lawyer up if we try to withdraw from contract. Do we have the right to walk away as sellers?
2 Answers from Attorneys
Call me at 810-227-7200. Visit www.jnfiani.com for more information.
No one could properly advise you on the contract, which I'm sure is very complex, without reading it in detail, especially this "contingency." it is possible to move on, and it is possible you will get sued. But, that could just be bold talk. Visit kliszlaw.com if you are interested in having the contract thoroughly reviewed and your options explained to you. Regards, Tim Klisz. Kliszlaw.com
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