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Updated almost 4 years ago,

User Stats

38
Posts
2
Votes
Geoffrey Pierce
  • Flipper/Rehabber
  • National
2
Votes |
38
Posts

Specific Performance is a dud; what now?

Geoffrey Pierce
  • Flipper/Rehabber
  • National
Posted

Seller balked at closing then sold the lot to a 3rd party before out closing date even arrived. Consensus is that Specific Performance suits aren't worth it for this small of a deal (Still worth 25k to me). I'm told the "innocent" third party makes it unlikely a judge will vacate the sale and order seller to sell to me.

I previously clouded title with a memorandum when she balked and before the sale. My question is, is it worth leaving it until the buyer tries to sell or finance? Am I the a-hole for wanting at least my costs back, if not lost profit? How likely is a $5k or $10k recovery from the buyer to rescind the memorandum?

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