Can a seller renege on a contracted house sale?
Question Details: My brother squatted in my home for many years. I allowed it because I felt bad for him. Now he's back on his feet, destroyed my home and wants to buy it at the price it's worth less the amount it will cost to fix what he's done to it. He and his new wife have threatened me. They borrowed money from our dad for tearing down trees and repairs and did such repairs and said, "You owe dad $17,000". He undercut the worth with his agent ex-father-in-law. I am now selling at a loss and owe dad. Can I get out of this sale?
If you agreed to sell it to him, you are obligated to go through with the sale unless;
1) He threated you with violence or criminal activity to make you agree to the contract.
2) He lied about something critical to get you to sign the agreement (committerd fraud).
3) After signing, he violates his own obligations under the contract, such as by not paying a deposit when he should.
4) The contract has some cancellation clause that lets you out of it, and you comply with the clause's requirements.
Otherwise, regardless of his pre-contract behavior or whether you should have entered into the contract or will take a loss on it, you are obligated to the contract and must go through with it.