What to do if seller wants out of already signed contract?

[Tamarra Banks]

I think i see my first deal going bye bye.I already have a signed contract and my time period to find a buyer is not up yet. The seller wants to now sell property to a family member. He says the family member has title company lined up.I have a potential buyer who is supposed to get back to me. Do i just let the time period expire and allow him to sell to family member or do i hold him to our contract he signed and proceed with finding a buyer.The only one i see losing in this situation is me.

Tamarra

[Jay Miller]

You could put a cloud on the title by filing a Notice or Interest at the County Recorders Office. When the seller need to get your lien released to sell to the new party try to get some money out of the deal to release your lien.

I had a similar situation this month and did exactly the above. I ended up getting the property.

Good Luck.