InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Can a seller stop an open escrow? Posted by Jk on October 21, 2003 at 9:04 PM In Reply to: Re: Can a seller stop an open escrow? posted by SeanW on October 21, 2003 at 6:28 PM : The average home buyer isn't going to hire an attorney and sue for specific performance. (I.e. make you sell the house.) They want to move into a house... not get into an aggraviting fight. : But you might well end up in small claims court over their expenditures attempting to buy. I.e. loan fees, appraisal, house inspection, etc. So be honorable about it. Refund their escrow deposit and these costs. It wouldn't hurt to offer your listing agent a few hundred bucks too. He/she did perform a service, spent some time and money doing it, and got you pretty far into the sale. : Tell them all the truth why you want out... Stuff happens. They'll probably go along. Can you afford your old home without your ex-wife's income and what does your ex-wife want to do? A listing agent can sue and win their full commission if you decide to back out of an escrow. Also the buyer can sue for specific performance (force the sale). If all parties will agree to let you out then go for it, but if not you might want to consider buying another property or renting. Follow Ups: Re: Can a seller stop an open escrow? Jack 12:09 AM, 10/22/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : The average home buyer isn't going to hire an attorney and sue for specific performance. (I.e. make you sell the house.) They want to move into a house... not get into an aggraviting fight. : : But you might well end up in small claims court over their expenditures attempting to buy. I.e. loan fees, appraisal, house inspection, etc. So be honorable about it. Refund their escrow deposit and these costs. It wouldn't hurt to offer your listing agent a few hundred bucks too. He/she did perform a service, spent some time and money doing it, and got you pretty far into the sale. : : Tell them all the truth why you want out... Stuff happens. They'll probably go along. : Can you afford your old home without your ex-wife's income and what does your ex-wife want to do? A listing agent can sue and win their full commission if you decide to back out of an escrow. Also the buyer can sue for specific performance (force the sale). If all parties will agree to let you out then go for it, but if not you might want to consider buying another property or renting. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455