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Updated over 4 years ago,
Enforceable Purchase Agreement?
We signed Purchase Agreement for a duplex in Probate requiring court confirmation. Covid19 comes along and I'm worried about cash and other rental property and new law where we cannot evict for owner occupancy. We give forms to seller to back out because of Covid19. Seller wants to keep deposit and we don't come to an agreement. Court confirmation date set for July. Seller lists property for sale and signs a second Purchase Agreement and takes a deposit on that sale. So, now two Purchase Agreements exist for the same property. I know this can't be correct. Seller's probate attorney planning to go into court to get rid of court confirmation. New buyer has 17 days to get out of deal if they want. They are anxious to settle with us now. First, is our contract still enforceable if they've entered into another contract to sell? I think the agents were so anxious to sell, they didn't consult the probate attorney representing the estate. Is our contract voided by their acceptance of the second contract? If that's the case, we would be entitled to our entire deposit back. I hired a Probate attorney to navigate probate court. Also, our real estate agent is the partner of the listing broker in their firm. They did send us a copy of the signed Purchase Agreement with the new buyer. They never served us with a Notice to Buyer to Perform. Any advice helpful.