Seller Refusing To Close Escrow

I spotted a brief mention of this in our California Association of Realtors feed on Instagram. Enough of it to make me realize that it should be shared.

What if the Seller does refuse to Close Escrow?

I've yet to have it happen to any of my buyers, 

but as a Realtor, it's out of my hands when it does.

As your agent, I can send a Demand to Close Escrow to the Seller on your behalf. It must be sent out before a buyer can cancel based on the seller refusing to close escrow. There are time periods that we must adhere to of course.

The buyer may wish to send a a letter which outlines the legal liability for the Sellers breach of contract. Yes, the purchase agreement is truly a contract. So often ignored as such though. 

However, the buyer may hire a lawyer,  file a suit, record a lis pendens, ask for specific performance or damages, and claim attorney fees and costs.

Reminder, your agent is out at this point. We are not attorneys, and cannot assist with any legal issues between Buyer & Seller.

If the Demand to Close Escrow is not adhered to by the Seller, again, we are out of it and the Buyer has to decide if they want to pursue legal guidance.