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Updated over 6 years ago on . Most recent reply

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114
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Ehab Tadrous
  • Manassas, VA
13
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114
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Getting out of a sale contract

Ehab Tadrous
  • Manassas, VA
Posted

I am selling this property which was purchased at a tax lien sheriff sale, I signed a contract with one of those contractor guys who buys for cash, but he is not licensed and is just trying to sell it or wholesale it on the MLS, leaving me without any word on the process, The contract said they should have started the process of the Title search and notified me within a 5 business days and notify me within 20 days of any problems with the search, they did not start the search until 15 days from signing the agreement, then i sent an official cancelation he is accusing me of breaching the agreement and want to file a lien on the property for his right to buy?? is that possible to be filled?? please advise

Most Popular Reply

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16,433
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Ned Carey
  • Investor
  • Baltimore, MD
12,718
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16,433
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Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

@Ehab Tadrous I think you made some bad decisions and are regretting them now. 

So how do you move forward from here. 

You might see if he can sell it. If you have a title issue and can't get insurance, be happy he found a buyer sucker for you. You could make a formal complaint to the real estate commission. 

Presuming what he is doing is illegal, the contract is not valid. A contract for something illegal is not enforceable. But whether he is doing something illegal depends on what the contract states and in part what his intent was. The fact the contract says he can relist it on the MLS implies he never intended to close and is acting as a broker without a license.

The fact he has relisted it for double what you are getting does not  mean he will get that price or anywhere near it. The guy is probably a newbie. The fact he said he will file a lien against the property says he doesn't know what he is talking about. Yes he could file something but not a lien.  It is as likely as not he will not close on time and the contract will expire. 

  • Ned Carey
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