What to do if seller tries to back out of signed contract?

[Josh Norris]

Hi All,

I have a question I would like to get answered, and hope it never happens to me. What recourse do we have as buyers if the seller tries to back out of a signed contract in escrow? Can the buy put a lien on it? Can you sue them? Does it matter if its cash purchase.

Thank you,

Josh

[Aaron Mazzrillo]

Wish them good luck and expend my energy on sellers who want to play my game. I don't have time nor money to set in front of a judge and explain why they need to be selling me their house. I personally agree every real estate owner should get maximum value from their property. If selling to me is a choice they make, then I do my best to pay them maximum dollar as an investor. Of course, I still have a profit build in, but I pay the highest and best I can while still maintaining that profit margin I expect.

The lesson; there are tens of millions of houses out there. Why would you want to sue someone who has changed their mind? Go find another deal.