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Updated over 5 years ago,
Fighting: recorded contract that was cancelled prior to recorded
Hello, I was under in a sales contract for my property, however the seller and buyer could not agree on all of the terms and conditions after many attempts.
There was an error in the contract for HOA Fees (98 dollars difference which was corrected); this was noticed before the buyer spent any money and no appraisal completed. The buyer wanted $35K of the sales price for the life of the loan and HOA Fees. We could not agree to those conditions. I provided 3 resolutions that was reasonable and her attorney counter offered.Then I cancelled the contract on June 7 and the buyer recorded the contracted on June 11.We could not agree on the terms therefore I cancelled the contract on June 7 due to both parties failed to agree on the terms. At this point my attorney informed the other party that we have no active contract.
On June 11, the buyer recorded the contract. Weeks later, the buyer wanted to make another offer of $13K off the asking price verses 35K off the asking price, agreed to the correct HOA Fees and wanted all of the furniture in the cancelled contract.
I explained to the buyer that a new request to reactive the cancelled contact is required or a new contract has to be sent over. Both parties agreed to all of the conditions except the furniture requirements at the reduced price of 13K.
The buyer and attorney stated that we can use the old contract since we are still under it. My attorney stated again our position and the previous contract was cancelled.
How do I approached the recorded contract on my title and the buyer understand there is no active contract? Also, how do I explain to the buyer that a new request to reactive the cancelled contact is required or a new contract has to be sent over.
The buyer's real estate license expired, should the buyer understand what happening with the contract?
Thanks for your feedback.
Silver