Feb
28
Can the seller get out of a Lease Back contract they have already signed?
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My husband and I are buying a house. Originally the sellers said they wanted to do a lease back. (Where they rent there house back from us after we buy for a month) Both sides have signed all the contracts and it is supposed to be final. Now they say they don’t want to do it and want to move out at the close of Escrow. We want them to stay for the month they leased they are trying to get out of the contract by saying the wording does not obligate them to stay. It’s a Coldwell banker contract. Can they really get out of it? Only answer if you know about this stuff…
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1 Comments
March 1st, 2009 at 1:40 pm
You will have to carefully scrutinize the wording in your contract to purchase. The fact that it is a Coldwell Banker contract is meaningless, since offers to purchase and contracts of sale vary from state to state, according to the real estate laws of the particular state. In my state (Wisconsin), the language is very clear, and the offer to purchase provides the option of either refunding or not refunding any unearned post closing occupancy charges.
Your C-B agent should be able to explain this to you clearly.