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Updated about 1 month ago on . Most recent reply presented by

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Matthew Orr
  • Rental Property Investor
  • New Jersey
0
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7
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Should I sure for specific performance?

Matthew Orr
  • Rental Property Investor
  • New Jersey
Posted

I am currently under contract with a wholesale deal that was to close on Monday. The property is being purchased at 103 with an ARV of 375. The wholesale deal is at 81.5. Everything on my side was set to close, and then today the seller is refusing to close on Monday as they have not moved a few pieces of furniture they were supposed to get movers for. This was also not mentioned until today. After I was informed this, I pushed the wholesaler hard as their was no contingencies and I was pushed for a 10 day close. Now the seller has been admitted into the hospital as of this afternoon and is not answering the wholesaler. He was able to talk to the sister who has conveyed this information and is claiming to talk to her sister tomorrow. Additionally, the contract with the wholesaler is set to expire on Monday the 27th. Should I file suit to make them sell the property? Also, am I able to do this, or does it need to be done by the wholesaler?

  • Matthew Orr
  • Most Popular Reply

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    37
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    19
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    Havital Miltz
    • Accountant
    • Accepting new clients from anywhere in the USA
    19
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    37
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    Havital Miltz
    • Accountant
    • Accepting new clients from anywhere in the USA
    Replied

    I do not know that if someone is in the hospital you can force them to close, I am not an attorney, but I doubt any court will find in your favor, closings do not always happen exactly on the day that is planned, even if everyone is healthy and well, the wholesaler here is not the reason for the delay so I am not sure what exactly you can sue him/her for, they are also being held up due to the seller not being well

    Just give the person some time to get out of the hospital, closing will probably not happen the very next day either, this is really extenuating circumstance. 

    business profile image
    Havital Miltz - Your Tax Advisor LLC

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