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Updated about 3 years ago on . Most recent reply

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31
Posts
7
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Neel P.
  • Real Estate Investor
  • Los Angeles, CA
7
Votes |
31
Posts

Seller won't sign Cancellation. He re-listed unit. What can I do?

Neel P.
  • Real Estate Investor
  • Los Angeles, CA
Posted

I was under contract on a duplex in Missouri and the financing fell through.

Its within the 45 day Loan Termination Deadline period, and the sellers agent was made aware.

Long story short - the seller got mad and is refusing the sign the Notice of Cancellation. The deal date is long gone now (Nov 19th). I had a lawyer send a demand letter to the seller's broker to say that he needs to sign the Notice of Cancellation, but nothing has resulted from that.

The seller has since then gotten a new broker, relisted the property, and it's now currently under contract.

I'm not able to get my EMD back unless he signs the Notice of Cancellation.

I emailed the new broker today that her client is in violation of my contract and thus I can technically due for damages, and ask her to relay this to her client so he can sign the Notice of Cancellation and we can move on.

What else can I do?

Is he even allowed to relist his property without cancelling my contract officially? Is there anything I can do to block his new deal until he cancels my contract?

Thank you

Most Popular Reply

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Tom Gimer
  • DMV
3,417
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3,467
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Tom Gimer
  • DMV
Replied

I would be careful here. Filing a lis pendens requires a civil action to have been filed which affects title to the property. Information about the pending case is what goes into the notice of lis pendens. If you have no interest in purchasing the property, then your suit would be for money damages only and not an equitable action affecting title.

If you cloud a title you have no intention of acquiring, you may be sued for slander of title... the damages for which can include attorneys fees. Some attorneys love to pursue claims where attorneys fees can be recovered.

With brokers involved, there should be a dispute resolution section of the sales contract. I would review it and follow the terms. Good luck.

  • Tom Gimer
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Eastern Title & Settlement
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