Legal Question in Real Estate Law in New Hampshire
Enforcing a P&S contract
We have a signed contract to sell our mobile home for $32,000, 2 weeks ago we agreed & signed to drop the sale price at the buyers request to $29,000, now the buyer says she wants the price reduced to $19,000 or else she won't buy it. Can she do that or can we enforce the $29,000 contract since she signed the agreement also?
2 Answers from Attorneys
Re: Enforcing a P&S contract
Enforcement of a contract requires a careful review of the terms and conditions. Is there a penalty clause for revoking the contract? Does the contract call for strict performance? Were all of the inspection conditions met? Before offering a more substantive answer any attorney would need to review the document. The rights and remedies are often detailed in the contract.
Re: Enforcing a P&S contract
If it is a valid real estate contract can try to hold them to it by "specific performance" or by suing for damages. If you end up selling the property to someone else for less, they would owe you the difference.
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