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Updated over 11 years ago,
Can I be sued or forced to sell to buyer
Hell everyone,here is my situation :
I am the seller in a current residential purchase agreement in southern California.I am currently in escrow on a property i took title on with a quitclaim deed because the previous owners were going to lose the house to foreclosure .The buyer and i used a California residential purchase agreement used by realtors to enter in to a contract.Buyer has not deposited earnest money and are we now at are at the 27 day of our 20 day escrow.The investor is getting a hard money loan and he says that he is ready to close,but title is asking me for a affidavit of uninsured deed from previous owners so they can insure buyers title.
My question is: If i the previous owners will not sign this affidavit,does this mean I cannot provide clear title and the buyer cannot get title insurance and we are dead in the water or can the buyer take me to court and force me to sell the home to the investor.The affidavit would still need to be signed if this is the case or can i just cancel the transaction ,which would be my intention.He is threatening to place a lis pen-dens and force me to sell to him.
Any feedback would be very much welcome.
Thank you in advance