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Updated over 3 years ago on . Most recent reply

User Stats

120
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Dave S.
  • Investor / Wholesaler
  • Erie, PA
18
Votes |
120
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Under contract but no responses from seller

Dave S.
  • Investor / Wholesaler
  • Erie, PA
Posted

The title says it all but I’ll elaborate a bit. I am working directly with the seller. Finally got the property under contract! The seller is anxious to move fast (for whatever reason). A couple days later I called them cause some items are needed from seller (resale certificate, permission to go on property form from the inspector, etc). Didn’t get an answer. That was over a week ago. Not sure if the seller is getting cold feet or what but as I see it, there is a legally binding contract between us and it must be upheld. What leverage do I have to get this thing moving. How do I incentivize / threaten the seller (not that I thought I had to from earlier discussions) to get moving? They wanted to settle in November still. It was already a tight timeline but now with the holiday, I don’t know if it’s going to happen. Thoughts on how to proceed? 

Most Popular Reply

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15,747
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Will Barnard
  • Developer
  • Santa Clarita, CA
10,945
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15,747
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Will Barnard
  • Developer
  • Santa Clarita, CA
ModeratorReplied

If you have a legal binding contract, then I assume you have escrow opened (or a closing attorney) who is handling the transaction? Have them send emails and phone calls stating the contractual obligations which are not being met. Sounds like you have a potential legal issue on your hands so you may want to consult an attorney to assist. Prior to that, perhaps taking a trip to the property and knocking on the door.

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