[WSBARP] Terminating a PSA

Tue Sep 17 13:40:28 PDT 2024

If there is a realtor involved he probably will be on the hook for a Commission since the agent found a ready willing and able buyer for a price mutually agreed upon however the only out might be if there was some sort of contingency that the buyer had to satisfy and couldn't such as getting financing or selling their home within a certain period of time so he will have to negotiate a deal with them if there are agents involved as well as the buyer

Bryce H. Dille
Dille Law, PLLC
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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Douglas Scott
Sent: Tuesday, September 17, 2024 1:25 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Terminating a PSA

As quickly as possible, the PC should let the buyer know before the buyer gets financing or does anything else in reliance. Perhaps honesty is the best policy without forgetting about any of the possible legal challenges if PC needs them.  Just how far does the buyer wish to go to get this house? Specific performance  actions are expensive.   An early disclosure would allow the buyer time to locate another home.

DOUGLAS W. SCOTT
Rainier Legal Advocates|LLC

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Issaquah, Washington 98027
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On Tue, Sep 17, 2024 at 12:08 PM Mark Anderson <marka at mbaesq.com<mailto:marka at mbaesq.com>> wrote:
Dear All:

PC is planning to move across county for his job.  PC enters into a PSA for sale of his Washington home.  The day after the PSA is signed around, PC (and several of PC’s colleagues) are unexpectedly laid off.  PC wants to terminate the PSA to remain in the home.  Buyer has already deposited earnest money with Closing Agent.

I’m trying to think how to best advise PC.  Any ideas here?

Thanks.

Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock St  Ste 209  PMB 4-12
Tacoma, Washington 98402
+1 253-327-1750
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