Seller is breaching contract, should I let it expire or sign their cancelation if I am going to have to take them to court.
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Seller is breaching contract, should I let it expire or sign their cancelation if I am going to have to take them to court.
I am the buyer of a contract that is supposed to close escrow in 2
days, but there is a problem with the title the seller can not
resolve. She wants us to sign a cancelation contract, but I feel we
should just let this one expire because it is her fault and that
would help us more in court. AND now the icing on the cake is the
Seller’s agent is the owner of the property through a shell
corporation that she is the president of AND never disclosed that at
any tI me of our transaction. She doesn’t even know that I know lol.
What is my best option of recourse. Thanks for any help
Asked on May 17, 2017 under Real Estate Law, Nevada
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Let them breach the contract by being unable to deliver good title on the closing date: that will be a material breach and will support a breach of contract law suit. If you sign an agreement voluntarily terminating or cancelling the contract, that could end up prejudicing or even waiving your right to proceed against them.
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