The seller now wants to back out of the contract. Can they force us to release them from the contract?

Reader Question: Do buyers pay a fee when buying real estate? Sam D. Monty’s Answer: The answer is, in some cases “yes.” Real estate companies and agents utilize a variety of philosophies to establish the fees they charge for their services. There are flat fees regardless the selling price, limited service fees, percentage of the […]

Reader Question: my property is for sale. It has been my primary residence for 40+ years. My Realtor wants to know ‘If an offer were made would I be willing to vacate the premises upon the day of closing?” What if I move all my belongings into storage and the buyer backs out of the sale at the last […]

Reader Question: I recently signed a contract to purchase a home under the agreement that I would allow the sellers 30 days to move out after the closing date. What should I do to protect myself financially against damage to the home in those 30 days? Also, can this be negotiated through the bank at […]

Reader Question: It is 5 days before closing. Today, the seller notified us the 3 unit building we are buying is legally only a 2 unit building. I do not want to rent an illegal unit, and we need that income to carry the mortgage. On top of that, there is a relative living in […]

Many real estate transactions end in water-cooler conversations. The closing takes place, but not on the date planned, or money requirements require changes, or the seller took the washer and dryer; or dozens of other possibilities. Ensuring a successful real estate closing is attainable. Many real estate closings take place on time and as agreed. […]