Legal Question in Real Estate Law in Texas

Sold our home privately

We sold our house privately. The contract we did up with the purchaser was, they agreed to pay us $640,000. They took possesion of the home on July 1/08 stating that they will pay us $640,000 and pay us $1000.00 month with them residing in the home until there proir home sells. Now after 6 months and the market slowing down they say they are moving out of our home and defulting on the purchase contract. Can they do that or are they obligated to pay us the $640,000. they agreed upon? We live in Texas now but the home I am speaking about is in Canada.


Asked on 1/02/09, 7:59 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Sold our home privately

You really need to contact an attorney in Canada to answer this one, but I am going to give you a common sense answer. First, you could go after them for "specific performance" IF that remedy is in your contract. Enforcement of specific performance (making them buy the house) involves a long and expensive lawsuit - and you may lose. Otherwise, you need to sue for money damages which leads to the second issue. If these people are not credit worthy, you may be trying to get blood out of a turnip. If that is the case, it is best to get them out of your house, do your damage control, and move on.

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Answered on 1/03/09, 7:19 am


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