Buying a home

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estiaanf

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Ive recently put in a offer for a house where I live at my local agents. Now, after a month the woman does not want to sell the house, and Ive allready changed my mind on not buying the house anymore. In the contract it said cool off period is 5 days.

All of the sudden now the woman wants to sell the house again, but I want to pull my offer back, She allready signed the damn thing tho.

Remax states now that I need to send her a letter, giving her 7 days to sign, But she took a month and then decided not to sell anymore,

I'm sure Remax is just hunting for commision, saying its not possible to pull back the offer without the 7days letter.

Anyway of get out of this situation??
 
Go see a lawyer.

You do have a problem if you did not withdraw your offer before she signed it.
 
Seee she signed it, but thenshe decided not to sell anymore, and a monthlater, now she taking me back on the offer.
 
Does the OTP not state a bunch of conditions and due dates to be met for it to stay valid?
 
Read your OTP,

If there is written communication that the owner doesn't want to sell anymore to you, then you probably have a bit of negotiation.
 
ToxicBunny said:
Read your OTP,

If there is written communication that the owner doesn't want to sell anymore to you, then you probably have a bit of negotiation.
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This.

I also recently signed an offer to purchase and it's definitely a bit tricky. The biggest concern i can see for you is once your offer to purchase is signed by you as well as the seller its pretty much a purchase contract until the lawyers draw up the formal papers, which can take as long as 90 days. The seller deciding not to sell anymore but not declaring the offer to purchase null and void means the purchase is still in effect. If you wanted the place, for instance, you could force her to sell using the offer. Same unfortunately counts for VV. I may be wrong on some or all of it, but that is how i understood it for myself.
 
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When I used to be an agent, I always put a clause in the contract that the offer had to be accepted before a certain date. You can't have an open ended offer to purchase there should be a time limit the other party has to agree.
 
That's why I said go look at the contract. It may just say that the offer is irrevocable till a certain date.
 
moklet said:
When I used to be an agent, I always put a clause in the contract that the offer had to be accepted before a certain date. You can't have an open ended offer to purchase there should be a time limit the other party has to agree.
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So it stands like this, she signed the offer to purchase, but 2 weeks later, she did not want to sign the transfer of ownership papers, She then "called the transaction off". 45 Days later her kids forced her to sign the transfer of ownership contract, after she let me know that she is not selling it anymore. Now she wants to sign the transfer document.

The lawyer that drafted the documents,NEVER told us about the clause "7 days letter for the offer to expire".
What can I do?

She let us know that she is not selling anymore, and 45days later, now she is taking me back on the offer!
 
estiaanf said:
So it stands like this, she signed the offer to purchase, but 2 weeks later, she did not want to sign the transfer of ownership papers, She then "called the transaction off". 45 Days later her kids forced her to sign the transfer of ownership contract, after she let me know that she is not selling it anymore. Now she wants to sign the transfer document.

The lawyer that drafted the documents,NEVER told us about the clause "7 days letter for the offer to expire".
What can I do?

She let us know that she is not selling anymore, and 45days later, now she is taking me back on the offer!
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Have you got the 'decline' in writting?
Does the OTP state that your offer is valid for x days or until y date?
 
No, I dont have the Decline in writing.

She just let the agents know that the deal is off.
 
Unfortunately you will need the termination of the contract in writing from her.

You will see that the clause named "Variations" will state that all amendments or notices must be in writing.

If you want to get out of the deal let someone peruse the contract for you.

Are there any suspensive conditions in the contract?
 
estiaanf said:
So it stands like this, she signed the offer to purchase, but 2 weeks later, she did not want to sign the transfer of ownership papers, She then "called the transaction off". 45 Days later her kids forced her to sign the transfer of ownership contract, after she let me know that she is not selling it anymore. Now she wants to sign the transfer document.

The lawyer that drafted the documents,NEVER told us about the clause "7 days letter for the offer to expire".
What can I do?

She let us know that she is not selling anymore, and 45days later, now she is taking me back on the offer!
Click to expand...

Sounds like her kids are wanting to put her in a home, and this house is her last stand..
 
Correct me if i am wrong: 1: Sale of agreement was signed by both parties - Yes. 2: She then said she didn't want to sell, and refused to sign transfer papers? - Yes ; A request for demand of signing the papers should have been made here - with threat of placing her in breach. 3: She now wants to sell the house, but you don't want it anymore? Unfortunately, there is no more recourse here for you or her. The sale of agreement is binding (unless conditional clauses are not met). The only other way out is by mutual agreement, to rescind the agreement, however, you may both be liable for any costs that may have been incurred by the process. Alternatively, if their was fraud by either party, you can opt to cancel the agreement or force it. If nothing else, you just bought a new house.
 
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