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Updated over 5 years ago,

User Stats

142
Posts
52
Votes
Justin Frye
  • Investor
  • Columbus, OH
52
Votes |
142
Posts

How does a homeowner successfully get out of a purchase agreement

Justin Frye
  • Investor
  • Columbus, OH
Posted

so i found an off market deal the other day that the homeowner is currently in a purchase agreement with a "wholeseller". They no longer want to be in that current agreement and want to sell independently.  The home owner wants to do business directly with myself, the buyer, and I have already had a contract drawn up to this effect.  The seller however does not want to sign until he can be assured/guaranteed he can get out of the purchase agreement he previously signed to sell his home.  There is nothing in the purchase agreement so far from what I have seen that has him legally bound to the agreement.  Can anyone give me any kind of advice or help as to how he can get out of this agreement?  I am obviously trying to assist him in getting out of the agreement due to him wanting to sell to myself directly, and not use any type of agent/wholesaler.  The wholesaler that he has been working with has been doing shady business and the homeowner no longer trusts them and wants to get out of this purchase agreement asap.  I appreciate any and all input!

Best,

Justin

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