Original Message:
HELP. Deposit has been made. Paperwork completed. Now the Buyer is trying to back-out of the sale. (by Charles D.):
I "successfully" agreed to sell my timeshare at a price of $17,000. We are using First American as the Escrow agent. All of the paper work has been signed, notarized, title has cleared, etc. The buyer put down a deposit of $750.00. First American is ready to close, just awaiting to receive the balance of the purchase price. The latest date for the closing is Monday, September 8th.
Now the buyer is doing everything to get out of the purchase. The buyer has the money to complete the sale. Do I have any legal recourse to force the completion of the sale? Or do I just receive the $750.00 buyer's down payment and the transaction never closes.
Any advice would be appreciated. I really think the buyer's behavior has been outrageous and he should be legally required to complete the sale.
Thank you very much for your advice.