Can a seller do this?

We are in contract for a house. The appraisal on the house came back, it appears higher than the seller expected, and it appears the seller feels they can get more money now. So the seller has come back to us indicating that they do not want the sellers concession included in the mortgage, and the only way they will settle for that is if we pay their taxes owed (appears they pay them twice a year, and they didn't do their last payment).

The seller indicated that they can sell it to someone else for more, so why should they help us out when we want to buy THEIR house.

We are at a point where we don't want to be pushed around or have demands made less than 2 weeks prior to our closing date, and we are willing to walk away. Would we be able to walk away and get the money we put down in good faith back if we don't agree to these terms? Nowhere in the contract did it indicate that seller's concession could not be rolled into the mortgage.

Thanks.

Re: Can a seller do this?

Oh yuck My gut is that no, they cannot do it if the seller's concession and all the details are included in the fully executed contract. But, your lawyer would really be the only person who can answer this question with looking at your contract as well as the legal statutes in the town/county/state you're purchasing.

Good luck - I hope it all works out!

Re: Can a seller do this?

I would want to know how the seller knows the appraisal price? Was it the realtor? When we purchased our house nobody saw the appraisal but me and the bank.

Re: Can a seller do this?

how did the seller get a copy of the appraisal?????

SOMEBODY'S gonna get SUED big time!!!!!!!!!

bottom line is, if you have a FULLY EXECUTED CONTRACT - the seller can scream and pi$$ all they want - YOU can sue them - and FORCE them to sell, regardless of what they're saying now!!!! your lawyer should know this!!

Message edited 3/24/2006 12:44:56 PM.

Re: Can a seller do this?

In regards to how the seller got a copy of the appraisal, to be honest, I really don't know. As this is the first home we are purchasing, we didn't find it weird when we knew she knew the appraisal price. I guess the seller customarily is not privy to this information.

I have to follow up and ask my lawyer about that.

Re: Can a seller do this?

Posted by Leeners

Oh yuck My gut is that no, they cannot do it if the seller's concession and all the details are included in the fully executed contract. But, your lawyer would really be the only person who can answer this question with looking at your contract as well as the legal statutes in the town/county/state you're purchasing.

Good luck - I hope it all works out!

Re: Can a seller do this?

Posted by MrsERod

how did the seller get a copy of the appraisal?????

SOMEBODY'S gonna get SUED big time!!!!!!!!!

bottom line is, if you have a FULLY EXECUTED CONTRACT - the seller can scream and pi$$ all they want - YOU can sue them - and FORCE them to sell, regardless of what they're saying now!!!! your lawyer should know this!!

Re: Can a seller do this?

I was jsut going to say if the contract is fully executed. Tell them to go scratch their ***.

Have you spoken to your attorney or did the realtor contact you directly?

Re: Can a seller do this?

The sellers unfortunately can back out of the contract at any time just by handing you back your downpayment. Even though the appraisal came in higher doesn't mean they can get that for their house. Also a appraisal will most likely come in aroudn the price you are paying for the house with the seller's concession so therefore it will be more technically than what you are "paying" for the house. Who is telling you that they are requiring you to pay their past due taxes because that isn't allowed. If your realtor is telling you this you need to talk to your attorney because that isn't allowed but again they can back out of the contract.

Re: Can a seller do this?

Call your lawyer. Say NOTHING to the realtor or the other side. Have your lawyer look into this ASAP. If the realtor asks, say that you need to talk to your lawyer and your lawyer will get back to them.

Re: Can a seller do this?

I thought once you had a fully executed contract they couldnt?

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You know what youre right, Im such a dope I went through something like that when I was buying.

Re: Can a seller do this?

Thanks for everyone's feedback. My lawyer is actually in court and I will most likely not be able to speak to him until tonight.

For those who were wondering, the contract has been signed by both parties almost a month ago.

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I thought you had to pay any taxes that they paid?? Much like paying for any left over oil in the tank?? Am I misinformed?

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this is such BS! I am sorry you are going through this!

Everyone else is right, once you have a fully executed contract, either party can't back out without consequences.

Shouldn't they have the house appraised and therefore know what it's worth BEFORE they put on the market?

Message edited 3/24/2006 3:25:29 PM.

Re: Can a seller do this?

If your attorney is in court ask to speak with his legal assistant. That person should be able to get in touch with your attorney. As for paying taxes - we had them prorated - so the seller paid them for when he lived here and we paid them for the rest of the year. Is that what they mean?

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Message edited 3/25/2006 10:09:12 AM.

Re: Can a seller do this?

O M G

WHAT AZZHOLES...I HOPE YOU FIGHT THIS AND WIN