Seller wants out of a contract, what should I do

[Linfeng Gou]

Dear all,

New investor seeking advice here. Signed a contract with an original closing date 11/8/19, a few days before closing seller said title company found out there was a restriction that the seller needs to remove before the title can be transferred. So we agree to an extension to Dec, so that he can go to court and get the restriction removed. Before Dec.8 he informed me he has a court date on Dec 10 and the restriction removal might take place till next Feb, since I like the deal a lot I agreed to extend again but now my agent told me the seller does not want to sign the extension. Should I move on, should I find a lawyer to sue? Not that I cannot walk away but the way the seller behaved definitely left a sour taste in my mouth... Any suggestion would be appreciated. Thanks in advance!

[Catherine Emert]

It definitely depends on what state you are in. A seller backing out of a contract in Oregon can carry some heavy consequences for the seller. I wish I had sound advice for you, these are tough situations, do you want to be the bad guy and force the guy to sell? You do have grounds in a court here in Oregon. Best of luck to you!