Legal Question in Real Estate Law in California

In the state of California, Seller wants to cancel escrow after discovering that the appraisal of the property was below the listing price, even though she accepted the offer from the Buyer at below the listing price. The appraised price was about $500 lower, than what the buyer offered. The Seller claims that she is not earning profit from selling the house and decides to cancel escrow after 15 days and the buyer is about to close contignecy and has signed to close. Is the Seller at fault for breach of contract? What damages will the buyer seek when filing for a lawsuit? Does the Buyer have any strong grounds to force the Seller to sell?


Asked on 8/25/09, 2:52 am

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Buyer can always bring a specific performance suit to force sale at the contract price, as long as Buyer has complied with all contingencies and terms of escrow and sale contract. You'll spend money doing so, make sure it is economically practical. If you win, you'd be entitled to your attorney fees as well, and could be collected in escrow as close. If serious about doing this, feel free to contact me.

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Answered on 8/25/09, 3:19 pm


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