[WSBARP] Terminating a PSA

[Mark Anderson]

I agree with your approach.  I just wanted to make sure I had not overlooked some more "legal justifications" for getting out of the contract.

Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock St  Ste 209  PMB 4-12
Tacoma, Washington 98402
+1 253-327-1750
+1 253-327-1751 (fax)
marka at mbaesq.com<mailto:marka at mbaesq.com>
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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

465 Rainier Blvd. N., Suite C
Issaquah, Washington 98027
425.392.8550 (tel)
425.392.2829 (fax)



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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
+1 253-327-1751 (fax)
marka at mbaesq.com<mailto:marka at mbaesq.com>
www.mbaesq.com<http://www.mbaesq.com/>
CONFIDENTIALITY NOTICE
This transmission is confidential and is intended solely for the use of the individual named recipient. It may be protected by the attorney-client privilege, work product doctrine, or other confidentiality protection. If you are not the intended recipient, or the person responsible to deliver it to the intended recipient, be advised that any dissemination, distribution, or copying of this communication is prohibited. If you have received this transmission in error, please immediately notify the sender via e-mail or by telephone at (253) 327-1750 that you have received the message in error, and then delete it. Thank you.

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