Seller backing out of retail building

[Ash Patel]

I have a $400k retail building under contract in Ohio and the seller informed my realtor that he wants to back out because of family politics. This was a standard residential contract, all cash and as is.  I read through the forums and couldn't find examples of litigation in this type of case.  I am willing to spend the money to pursue litigation.  The closing is scheduled in 7 days.  Any advice or experience?

[Joel Owens]

Juice might not be worth the squeeze. Commercial litigation attorneys could be about 600 an hour. On such a small deal might be a waste of money.

Might be able to get them to cover your costs up to that point and give you a ROFR option in writing for when they do sell or fix the problems.

If this is an estate sale then if there is infighting on who controls what to be able to sell you might spend a ton of time in court and money for nothing.

You need a commercial litigation attorney with experience to review your transaction so far and give you realistic expectations and steps. Might spend so many hundred for initial consult and the attorney has the court experience to know how things likely play out for time and money invested.

The seller could have gotten a higher offer and trying to weasel out which you seeking to enforce performance might make them forget trying that.

No legal advice given.