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Message edited 1/8/2008 11:10:20 AM.

Re: Real Estate advice

have both parties signed the contract?

If so, then you need to read what the contract states.

the seller cant accept another offer, they will be in breach of contract.

if they choose to walk away, I would want them to pay me any interest I would have accrued on my money now that it is in escrow, attorney fees, inspection fees, etc

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Message edited 1/8/2008 11:10:30 AM.

Re: Real Estate advice

then it will be hard for them to just "walk away" if they do so, I would make them pay for what I said above.

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Message edited 1/8/2008 11:10:38 AM.

Re: Real Estate advice

I'm not sure how your contract is worded, but our contract states that they have to sell to us by a certain date. They can't just return the deposit and say "sorry."

There is a clause about being able to discuss breaking the contract due to life circumstances, or something like that. It means that if one of them loses their job, or a spouse dies and they want to stay, they could ask us to break the contract. But we need to give permission, they can't just break it if we want to go forward anyway.

I would call your attorney. He/she should be able to explain this.