Legal Question in Real Estate Law in Minnesota
Buyers Backed Out
Three weeks before closing, our buyers backed out and at the time stated they just didn't want to pay the high interest rate. Which in our contract that was not a legal reason to back out. So we refused to sign the cancellation and are trying to go after them to pay the fees we incured for the house we were trying to buy due to this sell, since we lost the house we were trying to buy. Now the buyers are claiming in writing from their attorney that they did not sign the purchase agreement that is was forged by their real estate agent. Do we have the right to still go after the buyers for the fees we incurred due to their backing out?
2 Answers from Attorneys
Re: Buyers Backed Out
You may go after the buyers and they would be required to implead their relal estate agent as a party. You could also list both the buyers and teh realtor as defendants to ensure that all parties are involved in the lawsuit.
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Re: Buyers Backed Out
Your buyers may be off the hook if their signatures were really forged; but from where you sit it's not possible to know for sure who is telling the truth; so making claims against everyone in sight including the realtor and the buyer may be your best bet.
Lots of times these can be settled short of going to court, especially in a case like this where out and out wrongdoing could be involved. The realtor could lose his or her license over something like this. I would think the realtor might want to settle.
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