Legal Question in Real Estate Law in Texas
RE: real estate question below
I'm in the same boat as this guy, but we are the sellers, whereas he is buying. We were in contract negotiations for selling our house. We get a ''Termination of Offer'' letter yesterday. All our agent could find out was that our buyer already had a contract on a house and the agent either 1)did not give seller termination notice monies in timely manner, or 2)left that area blank on the contract--pg.7, no. 23 ''Termination Option''. He had inspection done and now wants out of the contract. We have started our Pending time on another house, so we are in limbo. We are not sure if he knows agent misrepresented him or not, but we have been forbidden to speak with him. The seller, who is a broker, is going to sue him if he doesn't close.
What options does he legally have and why is it ''taboo'' for me to contact him directly.
1 Answer from Attorneys
Re: RE: real estate question below
I am not sure what you are asking. I think you want to contact the buyer directly to see what happened on the underlying contract. For you, it doesn't matter. The question is...did he terminate your contract within the option period? If so, he has every right to do so. Contacting him will not change a thing.